Selin: "Having negative numbers is painful"

Sweden Sweden — 2024 is progressing at a steady pace for Balder and CEO Erik Selin is not expecting any revolutionary events during the year and likely no project starts either. But one detail that rubs off on the Balder founder is the company's most important performance measure, which during Q1 decreased by ten percent compared to the same quarter in 2023. "We don't like negative numbers," says Erik Selin during the report presentation.

Sharam Rahi about the journey from Iran to Balder

Nordic — Balder's Deputy CEO, Sharam Rahi, participated in Nordic Property News event Stora Kontorsdagen Gothenburg. There he talked about his family's flight from Iran, when he first came in contact with the real estate industry and how he and Erik Selin came to lay the foundation for one of Sweden's largest real estate companies over coffee and cigarettes.

Balder’s nomination committee proposes election of new Chairman of the Board

Sweden Sweden — The nomination committee of Fastighets AB Balder has completed its work ahead of the Annual General Meeting on 3 May 2024. The nomination committee proposes that Sten Dunér be elected as new Chairman of the Board and that Carin Kindbom be elected as new Board member. The nomination committee proposes that current Board members Fredrik Svensson, Anders Wennergren and Erik Selin be re-elected.

Balder company buys from Kvalitena

Sweden Sweden — Kvalitena has relinquished 49.9 percent of the shares in Hedvig Eleonora Holding AB, the company that owns four properties on Östermalm in Stockholm's inner city of approximately 11,000 square meters. The buyer is Tulia AB, which is owned by Balder and André Åkerlund AB.

Karlastaden deal completed

Sweden Sweden — Balder and Serneke have completed the sale of building rights in Karlastaden, Gothenburg, to Förvaltnings AB Framtiden.

Erik Selin on Balder's 2024: "Net sales of building rights – maybe some investments"

Sweden Sweden — Balder's CEO Erik Selin predicts a quiet 2024 for the company, which in many ways will be similar to their 2023. There are no project starts planned during the year, and he also does not see much activity ahead of him in the transaction market, although he believes that as a whole the market will thaw more during the course of the year.

Balder in transaction with Serneke

Sweden Sweden — Balder buys a hotel building in Karlatornet and sells building rights in Barkarby to Serneke.

Framtiden's CEO on the major acquisition in Karlastaden: "Careful agreement"

Sweden Sweden — On Monday, a dialogue lasting several months between public municipally owned AB Framtiden and Doxa, Balder and Serneke resulted in an agreement on a transaction in Karlastaden in Gothenburg. The deal is in the SEK 1 billion range (approximately EUR 86 million) and for Framtiden it means the opportunity to build between 300 and 400 homes. CEO Terje Johansson reveals more about their reasoning behind seeking out the troika in Karlastaden. He also comments on the turmoil in the municipally owned company Poseidon at the beginning of the year.

Serneke and Balder sell 151,000 sqm of building rights in Karlastaden to Framtiden

Sweden Sweden — Serneke and Balder sell approximately 151,000 square meters of building rights in Karlastaden to Gothenburg's public property group AB Framtiden. The deal consists partly of two blocks that are transferred to 100 percent, and partly of four blocks that are transferred to 74 percent, with Serneke and Balder as continuing co-owners of 26 percent. The purchase price amounts to approximately SEK 1 billion and also includes a unilateral option to buy back the building rights in the four part-owned blocks no later than September 2027. The deal is expected to have a neutral profit effect for Doxa.

Christina Rogestam declines re-election in Balder

Sweden Sweden — The Chair of Fastighets AB Balders’ Board of Directors, Christina Rogestam, has informed the Nomination Committee that she is not available for re-election at the upcoming Annual General Meeting.

Balder adds key-player from Unibail-Rodamco-Westifeld

Sweden Sweden — Balder strengthens the team with new Head of Leasing for retail.

The heavyweights' different views on Entra holdings – Balder sees no need for a write-down

Nordic — Entra's two largest owners, Castellum and Balder, both submitted their Q3 reports on Friday, and there it appeared that they have different views on their holdings in the Norwegian real estate company. Castellum has chosen to make a write-down of close to SEK 0.5 billion, while Balder has chosen to leave the value unchanged. Balder’s CEO Erik Selin comments on Balder's view of the Entra holding and shares his view of the bond market.

Entra struggling on the stock market – cancels dividend for H1

Norway Norway — Norway's largest real estate company Entra is owned by almost three quarters of Balder and Castellum, an investment that has dropped in value since they started investing in the company almost three years ago. The share is now down to levels for which it was last traded in January 2017. Wednesday's Q3 report did not have any significant impact in any direction, but the company's CEO Sonja Horn emphasizes that the company still focuses on strengthening the balance sheet and continues with its divestment program, but they will not sell properties at any discounts.

Positive momentum in Balder's ESG rating

Sweden Sweden — Fastighets AB Balder's targeted efforts within the sustainability field are yielding results Sustainalytics updates Balder's ESG risk rating to 12.3 from 13.8. Balder remains stable within the low-risk range, and is closer to the desirable level of negligible risk.

Milestone reached for Karlatornet – long interview with Ola Serneke and Erik Selin

Sweden Sweden — The time has come for the first people to move into Karlatornet, the Gothenburg skyskraper that is the tallest building in the Nordics. For some, the wait has been long – especially for Ola Serneke. Nordic Property News was present when a tour of the entrance and the viewing apartment on the 25th floor was given. Balder's CEO Erik Selin was also in the apartment, who, like Ola Serneke, gave his view on the situation going forward.

Balder's CEO is considering fragmenting

Nordic — Building housing is only favorable in certain locations and certain countries, says Balder's CEO Erik Selin when he participates in the capital market days in Båstad. At the same time, he stressed the importance of seeing that the "crisis" that many people think they see is only a blip in an otherwise upward curve. "It's just a matter of parrying that blip," he says. But that Balder will remain in its current form is far from obvious if the CEO himself is to be believed.

Balder updates its green financing framework

Sweden Sweden — The updated green financing framework sets a standard for green financing. The green financing framework has been designed to provide Balder with a range of green financing opportunities and is based on third-party certified properties and ambitious goals for energy consumption.

Balder's New CEO in Finland Wants to Lay the Foundations for Further Growth

Finland Finland — Balder wants to streamline the management of its holdings in Finland. Juha Lehtonen, who already manages Balder's properties in Finland through the company Bridge Properties, is appointed as the CEO of Balder Finland. Here, the new CEO gets to give his view on how the new organization should be designed.

Balder Establishes Property Management Organisation in Finland

Finland Finland — During the autumn, Fastighets AB Balder will start its own property management organisation in Finland. This is in order to more effectively and cohesively manage the company’s wholly-owned properties together with the properties which are owned through Serena Properties AB.

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.

Share Price Drop for Balder After Rating Blow: "Creates an Uncertainty"

Sweden Sweden — On Wednesday, Balder received a lowered credit rating from the rating institute Moody's, to Ba1 from previously Baa3, while the outlook for the rating is considered stable. The announcement caused Balder to fall five percent on the stock market and took many other real estate companies with it in the decline. Handelsbanken's analyst Johan Edberg tells Nordic Property News that the rating announcement was expected but that it has a signal value and can create long-term uncertainty around Balder. Balder on the other hand believe that Moody's report contains "factual deficiencies".

Moody's Downgrades Balder's Senior Unsecured Ratings

Sweden Sweden — Moody's Investors Service has assigned a new long term corporate family rating (CFR) of Ba1 to Balder and subsequently downgraded its senior unsecured bond ratings to Ba1 from Baa3 as well as its junior subordinated notes rating to Ba3 from Ba2.

Volvo Cars Signs Deal with Balder

Sweden Sweden — The new tenant will be occupying more than 7,000 square metres of office space in the new B46 building on the campus.

Balder's Plans Could Be Merged with Duo

Sweden Sweden — Balder and Älvstranden Utveckling are involved in the plans that will add over 1,000 new homes to the district of Sannegården in Hisingen, Gothenburg. Now a trio of plans will be merged for better urban development on the site. Nordic Property News gives you more details about the coming exploitation.

Erik Selin: "We Can Keep Away From the Bond Market Until 2026"

Sweden Sweden — Balder was one of the real estate companies that advanced the most on the stock market during Friday's trading, this after the company released its financial statements for 2022. During the presentation, CEO Erik Selin commented on his view on the bond market, the credit appraisers' view of the company and what we can expect from Balder on the transaction market in 2023.