Wistrand advises SBB on its acquisition of 70 per cent of the rent regulated residentials company Unobo

Wistrand has advised Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) as the company acquires 70 per cent of the shares in the rent regulated residentials company Unobo from Riksbyggen.

Unobo will be owned by Riksbyggen by up to 30 per cent. 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 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

The agreed share price of SEK 2,064m. Completion is conditional on the Swedish Competition Authority’s approval and is planned to take place in the third quarter of 2021.