Wistrand advises SBB on its sale of properties for SEK 10 billion

Wistrand has advised Samhällsbyggnadsbolaget i Norden AB (publ) (”SBB”) on its sale of government infrastructure properties for an agreed property value of SEK 10 billion to a jointly owned company (50/50) with Kåpan Occupational Pension Association. Kåpan manages occupational pensions for government employees.

The working name for the new company is Svensk Infrastruktur AB. In parallel with the transaction, SBB acquires 23 percent of the shares in the community service property company Stenvalvet AB (publ) from Kåpan and thus, together with Kåpan, becomes a major owner in Stenvalvet.

The properties that SBB sells to Swedish Infrastructurehave an annual rental income of approximately SEK 584 million and an operating net of SEK 435 million. The leasable area is approximately 500,000 sqm.

Of Swedish Infrastructure’s total property value, approximately 64 percent consists of properties for law enforcement agencies (the Swedish Police Authority, Swedish Courts, the Swedish Prison and Probation Service and SOS Alarm) and the remaining properties are mainly used by other government agencies such as the Swedish Fortifications Agency and the Coast Guard.