The property, with a property value of approximately SEK 423 million, is located in Ekhagen in Jönköping and is being built in four stages, totaling approximately 11,197 square meters and with an annual rental value of approximately SEK 21.6 million.

The acquisition of the property, which takes place indirectly through the acquisition of all shares in Träbyn Fastighets AB, is mainly conditional on Träbyn's lender no later than the date of takeover approving that bank debt continues after the day of takeover with Studentbostäder in Sweden as owner.

The purchase price is estimated, based on conditions on 16 February 2021, to amount to a total of approximately SEK 163 million and will be paid partly upon access and partly in connection with the completion of all buildings on the property.

Upon access, the buyer must pay part of the purchase price in the form of 700,000,000 newly issued C preference shares in Studentbostäder in Sweden and a cash payment of SEK 27 million. The consideration shares amount to an estimated value of SEK 66 million, based on a subscription price of SEK 0.094 per share.

The purchase price is subject to a customary final purchase price calculation prior to access, which depends, among other things, on whether investment support is received for the projects on the property and the outcome of the lease negotiation. The final purchase price calculation may adjust the cash portion of the purchase price.

"With this acquisition, we are now establishing ourselves in Jönköping, an important and growing student city. After a period where we worked intensively with the merger of the companies, it feels good to now be able to deliver continued growth for our shareholders," says Rebecka Eidenert, CEO of SBS.

"Together with Vasaparken, we have developed the Träbyn project and it now feels gratifying to be able to carry out this deal together with Studentbostäder in Sweden. For us, the work on this project has been going on for several years in good dialogue with the municipality of Jönköping. Therefore, it feels good to be able to deliver a climate-smart house made entirely of wood that will continue to be managed by a long-term player, which we also look forward to continuing to be a part of during their growth journey ahead," says Mattias Schultz, Urban Properties AB