Samhällsbyggnadsbolaget i Norden has acquired 70 per cent of the shares in Riksbyggen’s rent regulated residentials company Unobo for a share price of SEK 2,064m. Unobo currently owns 5,368 apartments in metropolitan regions and / or university towns with a total lettable area of 372,000 sq.m. and an annual rental income of SEK 432m. In addition to SBB, Unobo will be owned by Riksbyggen by up to 30 per cent. Over time, there is an ambition to expand list of owners to also include institutional investors.
In addition to the 5,368 apartments owned by Unobo, the company has signed an agreement with Riksbyggen for the acquisition of an additional 628 newly produced rent regulated residentials in Västerås, Jönköping, Linköping and Nyköping. In addition, Unobo has also signed letters of intent regarding the acquisition of an additional approximately 500 newly produced rent regulated residentials from Riksbyggen in Greater Stockholm, Gothenburg and in Helsingborg. All new production will be environmentally certified and the energy consumption must achieve Miljöbyggnad Silver. In addition, the buildings must be constructed with sustainable building materials.
“SBB's focus on residentials and the new construction of residentials, as the community builder that we are, becomes even stronger through this deal where we become the majority owner of Unobo. We are very much looking forward to a long-term collaboration with Riksbyggen where Riksbyggen's strong development competence and good relations with Swedish municipalities will ensure that Unobo becomes one of the leading pure residential players in Sweden", says Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB.
"SBB complements Riksbyggen in a good way and together with Riksbyggen they will form a secure and stable ownership constellation in Unobo", says Johanna Frelin, CEO of Riksbyggen.
Completion is conditional on the Swedish Competition Authority's approval and is planned to take place in the third quarter of 2021.
SBB has been advised by Tango Capital Markets and Wistrand Advokatbyrå.