Press releases 10 November 2020

Wistrand advises SBB on its acquisition of rent regulated residentials and community service properties for SEK 1.3bn

Wistrand Advokatbyrå has advised Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) as the company has signed an agreement with Skellefteå’s public housing company Skebo for the acquisition of Skebo’s rent regulated residentials and community properties on Morö Backe at an agreed property value of approximately SEK 1.3bn.

The transaction comprises 766 rent regulated residentials and 123 care and nursing apartments. SBB will, together with Skellefteå Municipality, develop building rights to invest an additional SEK 3bn in the construction of 1,500 new apartments in Skellefteå.

In order to be able to realise the construction of new apartments, SBB has been allocated plots of land in several places in central Skellefteå and Bureå.

The acquisition of the properties on Morö Backe is financed through the sale of certain financial assets. The acquisition as well as the investment in new apartments is conditional on Skellefteå City Council approving the deal.