Northern Europe real asset manager Northern Horizon is buying two elderly care homes and a development project in Sweden from Samhällsbyggnadsbolaget I Norden (SBB).

SBB said it has agreed to sell the two fully-let assets in Sollentuna and Haninge and the property project in Täby for SEK1.38bn (€129.2m).

Ilija Batljan, CEO and founder of Samhällsbyggnadsbolaget I Norden, said: “We continue with our work to strengthen the balance sheet through divestments and have with this divestment sold properties for SEK4.5bn during the month of July.

“We also continue to divest project properties that do not generate rental income. As we have previously communicated, we will do whatever required to strengthen our rating.”

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