SBB stands by the dividend in June – after that it stops

Sweden Sweden — It was a hopeful Leiv Synnes that presented SBB's Q1 report on Monday, where the company reported a negative but still improved result compared to the corresponding period in 2023 and where the rate of decline in property values has started to slow down precariously. Here, Leiv Synnes tells us more about his positive view of the market, the status of the company's deferred dividend and how they will continue to act to strengthen the company's liquidity.

SBB signs agreement for dissolution of Unobo

Sweden Sweden — As a step in SBB's efforts to eventually dissolve jointly owned residential property structures, SBB has signed a framework agreement with Riksbyggen regarding the dissolution of the joint ownership of the residential property group Unobo AB. Before the split, SBB owns 70 percent and Riksbyggen 30 percent of Unobo AB. SBB aims to coordinate its share of the properties within Unobo AB with Sveafastigheter’s residential portfolio. Riksbyggen continues to manage Unobo AB's portfolio until the end of 2024.

Listing day for SBB's spin-off PPI: "The price for current shareholders will be high"

Norway Norway — SBB's spin-off Public Property Invest (PPI) has now been listed on the Oslo Stock Exchange with the starting price set at NOK 14.50. The deal is worth a total of NOK 1,750 million and the company will initially get SBB's former CEO Ilija Batljan as CEO. Nordic Property News has spoken to savings economist and investment platform Levler's founder Joakim Bornold about why SBB is carrying out the special listing and what it means for the respective futures of both struggling companies.

SBB's associated company PPI announces Intention to Float on the Oslo Stock Exchange

Norway Norway — SBB-owned Public Property Invest (PPI) announces its intention to launch an initial public offering of new shares and apply for a listing on the Oslo Stock Exchange.

SBB wants to Riksbyggen's share in the JV Unobo

Sweden Sweden — SBB intends to buy Riksbyggen out of the jointly owned company Unobo, a company that SBB has owned 70 percent of since 2021. This is evident from a notification to the Swedish Competition Authority, according to Dagens industri.

Sveafastigheter appoints Erik Hävermark as CEO

Sweden Sweden — The board of Sveafastigheter has appointed Erik Hävermark as CEO of Sveafastigheter. He assumes the role of CEO immediately with a continued focus on executing the plan for ownership diversification of Sveafastigheter in 2024. At the same time, previously appointed Martina Lous-Christesen also assumes the role of CFO.

Pareto urges investors to "stay away" from SBB

Sweden Sweden — Pareto Securities repeats its sell recommendation for SBB and lowers the target price to SEK 2.5 from SEK 3.0. This is evident from an analysis that Nordic Property News has taken part in, where the analysis house writes, among other things, that "we continue to recommend investors to stay away and repeat our sell rating"

SBB establishes JV with Castelake

Sweden Sweden — SBB establishes a joint venture for community properties with Castlelake generating cash proceeds to SBB of approximately SEK 5.2 billion (EUR 474 million).

Lennart Sten proposed as new Chairman of SBB

Nordic — The Nomination Committee’s Board of Directors of SBB propose Lennart Sten pas new Chairman. He is proposed to succeed Lennart Schuss who has decline re-election as Chairman, but will continue on the Board of Directors.

SBB's PPI investigates the possibility of an IPO and listing on the Oslo Stock Exchange

Norway Norway — Samhällsbyggnadsbolaget i Norden's associated company Public Property Invest prepares for a possible initial public offering and listing on the Oslo Stock Exchange.

Large owners want to replace the entire board of SBS Norden

Nordic — Oltre Fund, Fastator and SBB, which together represent 40.72 percent of the votes and capital, have submitted a proposal to replace the entire board of Studentbostäder i Norden.

Viktor Mandel leaves Sveafastigheter

Sweden Sweden — When SBB announced on Monday that it is collecting housing assets worth 29 billion in Sveafastigheter before ownership dispersion, Erik Hävermark was listed as acting CEO of the company. Now the former CEO Viktor Mandel confirms that he is leaving Sveafastigheter completely. For Nordic Property News, he talks about the decision and about the CEO chair he instead continues in.

This is how the streamlining continues for SBB after Sveafastigheter

Sweden Sweden — SBB's CEO Leiv Synnes tells Nordic Property News that a listing of Sveafastigheter is one of the possible paths with the ownership dispersion that was recently announced. SBB also intends to go below 50 percent ownership in the soon-to-be-independent company. Here he tells more about how the streamlining of SBB will continue in the future.

SBB promises to start construction next year – may be fined if not

Sweden Sweden — SBB has promised Skellefteå municipality that they will be able to start construction of 280 homes in 2024, and has plans for another 200 that are awaiting detailed plans. The land instructions have been extended even though the municipality has repeatedly said that they will not do so unless the companies move forward and there may be a fine if they do not start as planned in 2024.

Lennart Sten becomes Senior Advisor to SBB's board

Sweden Sweden — Lennart Sten will assume office as senior advisor to the board of Samhällsbyggnadsbolaget i Norden on 1 February 2024.

Fredrik Svensson leaves SBB's Board of Directors

Nordic — The board member Fredrik Svensson has informed the Board of Directors of SBB that he will leave his position in SBB. Fredrik Svensson has been a member of the board since 2018, representing one of SBB’s largest shareholders, Arvid Svensson Invest.

Green light for SBB's transaction with Brookfield

Nordic — Financing condition related to SBB's Brookfield transaction has been fulfilled.

SBB sells to municipality

Sweden Sweden — When Fagersta municipality moved into the old Brukskontoret and Norra Station in the summer of 2021, it was as tenants of the real estate company Offentliga hus. Now, two and a half years later, the municipality is buying the properties from the current owners SBB through a company acquisition. The market value of the properties amounts to SEK 105 million (EUR 9 million).

CEO Leiv Synnes wants a wiser SBB

Sweden Sweden — SBB presents its report against the background of a few turbulent months. During the year, a large sales attempt was carried out to save the company in crisis. Ambition to be wiser and more thoughtful when it comes to liquidity, while also resolving debt.

SBB rejects acceleration notice from bondholder

Sweden Sweden — SBB rejects purported and ineffective acceleration notice from a bondholder regarding Eurobonds issued under its EMTN programme.

Exclusive with the global investor – these are Abrdn's aims for the Nordics

Nordic — In the spring the global investment company Abrdn appointed long time employee Anne Breen as its new head of real estate. In an exclusive interview with Nordic Property News she reveals what the transactions strategy looks like under her helm, how they view real estate in the Nordics and what opportunities they see in a market that has plenty of sellers.

SBB sells to Lovisenberg for EUR 245M

Norway Norway — SBB has sold two properties to the tenant Stiftelsen Diakonissehuset Lovisenberg for NOK 2,815 million (EUR 245 million). The properties being sold are the hospital on Ragnar Ströms Veg 10 in Ullensaker of which SBB owns 100 percent and an adjoining development plot of which SBB today owns 65 percent, co-owning with a local developer.

Leiv Synnes on SBB's latest crisis measures

Sweden Sweden — SBB's CEO Leiv Synnes tells Nordic Property News about Sunday evening's big strategic transaction which means that SBB releases majority control over Educo and presents a new corporate structure. Read about the ambitions with the changes, how the new structure is intended to strengthen the company going forward and the plan for the housing portfolio.

SBB strengthens liquidity and decentralises group structure

Nordic — SBB strengthens liquidity with approximately SEK 8 billion (approximately EUR 729 million) and presents decentralised group structure.

Rosel Ragnarsson retires – Helena Lindahl takes over as Treasury Director of SBB

Sweden Sweden — Rosel Ragnarsson retires and Helena Lindahl who is today part of the management team has successively taken over areas of responsibility within financing and investor relations.