Partner Leaves NREP

Finland Finland — Bids farewell to the company after 16 years.

Erik Selin: "Buying Entra Is too Dangerous Right Now"

Nordic — Balder has no plans to change its ownership in Entra, and CEO Erik Selin sees it as too dangerous to buy up the entire company, although he believes that the company's stock is "extremely cheap" right now. Here he also tells how he sees the future of the company's rating from S&P, which in 2022 wrote down the outlook for the company's BBB rating to negative.

Austrian Investor Strengthens Presence in the Nordics

Nordic — Creates a residential project in attractive metropolitan area.

Share Price Cut in Half – Here Is How Neobo Will Convince the Market Now

Sweden Sweden — SBB's housing spin-off Neobo has seen its share price halved since the listing on February 10, from SEK 16 down to around SEK 8. On Wednesday, the company submitted its first quarterly report since the separation from SBB and Nordic Property News got an interview with the company's CEO Ylva Sarby Westman. Among other things, she talks about the upcoming measures to strengthen the company, the views on the transaction market and how to succeed in convincing the market of the company's strengths.

"The Worst Thing that Could Happen to Ilija Batljan"

Sweden Sweden — SBB's B-share had its worst day ever on the stock exchange and dropped more than 24 percent on Tuesday, a further deterioration after Monday's loss of just over 20 percent. The collapse in SBB also dragged the entire real estate sector with it, which fell by more than 4.5 percent. Aktiesparna's general counsel Sverre Linton tells Nordic Property News that SBB is an incredibly pressured company that now needs to find convincing solutions to resolve its refinancing. He also gives his view on Ilija Batljan's future in the company.

David Mindus: "With Great Risk Comes Great Opportunity"

Sweden Sweden — Sagax goes against the grain and reports an increased management result of 20 percent in the first quarter, compared to Q1 2022. CEO David Mindus tells Nordic Property News how he sees the transaction market in the company's segment: "Many want to see the market more stabilized before making large investments."

Out with the Old and the New in Entra's latest Major Divestment

Norway Norway — Entra has sold two properties in Oslo for almost NOK 1.5 billion. The buyer is NREP and the disposals were made at approximately one percent below book value according to Entra. For Nordic Property News, Entra's CFO Anders Olstad talks more about the background to the deal, why the property were sold below book value and what the ambition for their assets looks like going forward.

SBB Slaughtered on the Stock Market after Downgrade

Sweden Sweden — SBB's B share fell almost 20 percent on Monday, the second worst day for the stock ever, and the D share fell even more by over 26 percent during a blood-red day on the stock market for Ilija Batljan's real estate company. The sharp decline came after credit rating agency S&P downgraded SBB's credit rating to BB+, or "junk status", with a negative outlook. Read SBB's comment on the downgrade and parts of S&P's negative analysis.

This Economist Guarantees that Inflation Will Start to Fall

Sweden Sweden — Swedbank's head of prognosis, Andreas Wallström, is absolutely certain that inflation will begin to fall, but the forecast includes continued interest rate increases from the Riksbank on a number of additional occasions. At the same time, he wants to see more incentives for municipalities and regions.

Nordika Gears Up for Finnish Expansion

Finland Finland — Nordika continues its development in Finland through the establishment of a local team and an office in Helsinki. Robert Högström, head of administration at Nordika, tells Nordic Property News about the new recruitments, how he views the Finnish market and how much Nordika aims to invest in Finland in the future.

Niam Invests Further in Danish Terraced Houses

Denmark Denmark — It is difficult to put your finger on why it differs between Sweden and Denmark when it comes to the interest in renting a terraced house. That's what Rikard Henriksson, managing partner at Niam, thinks. The interest is so great that they are now joining forces in a joint venture with Danish Milton Huse to further develop that side of property development.

Office Transactions at All-Time Low in Europe

Nordic — Office investment has fallen to an all-time low in Europe and fewer office properties were sold in the first quarter of the year than during the financial crisis, MSCI Real Assets' latest report shows. Nordic Property News does a segment-by-segment review with the help of MSCI's chief analyst Tom Leahy.

Winners and Losers on the Stock Exchange in April

Nordic — It was a mixed bag in April for the real estate sector, with some strong climbers and some heavier bottomers. Nordic Property News presents a list of how the companies performed on the stock exchange during the fourth month of the year.

Eastnine Confident of MFG Sale: "Ongoing Discussions"

Nordic — Eastnine have had a hard time trying to sell its stake in the Russian fashion company Melon Fashion Group, a holding that accounts for almost a quarter of the company's assets. After the aborted deal in March, the company is now holding discussions with other potential buyers, and here CEO Kestutis Sasnauskas explains why he is confident that the company can be sold at the same level as was agreed in connection with the broken deal. He also comments on what must happen if a sale is not possible.

Rutger Arnhult on His Return as CEO of Corem

Sweden Sweden — More than ten years after he handed over CEO responsibility to Eva Landén, Rutger Arnhult returns as CEO of Corem - with Eva Landén as deputy CEO. For Nordic Property News, the industry veteran talks about his return, how he will lead the company and how he, as by far the largest owner, views his future holdings in the company.

Corem's Chairman: This Is the Reason for the Change in CEO

Sweden Sweden — Corem makes a change in CEO. Rutger Arnhult steps in as new CEO and Eva Landén moves to a role as Deputy CEO. Chairman of the board Patrik Essehorn tells Nordic Property News about the shift, about the work ahead and how the new top duo will lead the company.

This Is Where Sweden and Norway Are the Worst in Europe

Nordic — The Nordic duo, particularly Sweden, stand out in a negative sense as MSCI Real Assets details the European property market performance in Q1. Their latest report shows, among other things, that commercial real estate investment in Europe fell to an eleven-year low in the first quarter of this year, a run led by the office sector.

The Three Paths' that SSB can Choose for Sveafastigheter

Sweden Sweden — At the end of February, SBB announced that it was investigating the possibility of listing the subsidiary Sveafastigheter - during last Friday's presentation of the Q1 report Ilija Batljan announced that there are two further choices the company can take regarding Sveafastigheter's future. SBB's CEO also comments on the continued sales ambition for 2023.

Bonava's CEO on the Challenging Market

Nordic — Still major challenges, but improvements are visible in some of the regions' portfolios. That's CEO Peter Wallin's words about this year's first quarterly report for Bonava can be summed up. "The results look good in terms of margins, with a few exceptions. The machinery works."

JM: The Stockholm and Finland Market is Most Affected by the Recession

Nordic — Wednesday evening 200 employees got the boot from JM. The day before the first quarterly report was presented. JM suffers from reduced purchasing power and a slowdown in construction, but CEO Johan Skoglund says that despite this, they hava achieved a record number of building permits.

Entra Aims for Further Sales Despite the Slow Market

Norway Norway — Entra, where Balder and Castellum are major owners, has now sold properties for SEK 2.3 billion, a little more than a third of the sales target of SEK 5.5 to 6 billion. In connection with the presentation of the Q1 report, CEO Sonja Horn commented more on how the divestment work is going in the challenging transaction market and explained why the vacancy rate increased during the first quarter.

Castellum Will Be Net Sellers in 2023

Sweden Sweden — When the Q4 report was released, it was unclear from Castellum's side whether they would be net sellers or net buyers in 2023 – but after the Q1 report released on Wednesday, it is now clear that they will be net sellers. The Entra holding is not for sale according to the company, and CEO Joacim Sjöberg tells Nordic Property News how they see the sales potential in the rest of their extensive portfolio.

Doxa's CEO: "A Friendly Offer after Close Dialogue"

Sweden Sweden — Doxa's CEO Victor Persson tells Nordic Property News about the work leading up to the company's billion-dollar bid for Serneke, why a takeover attracts so much and Karlatornet's part in Serneke's attractiveness.

Ola Serneke: "We Were a Company That Never Gave Up"

Sweden Sweden — Yesterday it became clear that Doxa has submitted a takeover offer for Serneke Group. Ola Serneke, founder of Serneke, says to Nordic Property News that he is positive to the offer that means that company can get a broad and stable owner base. Now Jan C Johansson, Serneke group's chairman, also comments on the potential takeover "We didn't contact Doxa".

The Challenges in Converting Offices to Residential

Sweden Sweden — In the United States, there is talk of a "golden ticket" in the real estate market – that is to succeed in finding a vacant office building that can be converted into housing that can provide a lucrative future. The Swedish market hasn't really come that far, but with increasing vacancies in above all the older stock, one can ask – when will it be profitable to convert vacant office space into housing? Nordic Property News enlists the help of Cushman & Wakefield's valuer and analyst Frida Carlsson to dig into that and other issues surrounding office conversions.