Swedish property company SBB has reached an agreement with Kåpan Tjänstepension to dissolve their co-owned housing company, SBB Kåpan Bostad AB.
Currently, both SBB and Kåpan Tjänstepension hold a 50% stake in the company. Following the agreement, subject to standard financing division procedures, SBB will acquire 1,300 apartments across 12 properties.
These properties are located in Stockholm, Nacka, Haninge, Västerås, and Nykvarn, with a combined area of roughly 78,000 m2 and a building right of 6,000 m2 of light gross floor area. As of December 31, 2023, the market value of these properties was estimated at SEK 3.4 bn (€297 mln).
Leiv Synnes, CEO of SBB, commented: ‘The dissolution of Hemvist is the last major step in streamlining and consolidating SBB's housing portfolio in Sveafastigheter ahead of a diversification of ownership. If the option of a stock exchange listing is chosen, Sveafastigheter will be Sweden's largest specialised housing company in a listed environment. Sveafastigheter has unique expertise in managing and developing housing.’
SBB also completed the previously announced separation of the jointly-owned Unobo housing company with Riksbyggen in May. SBB's portion of the apartments will now be managed by Sveafastigheter.
SBB focuses on the long-term ownership and management of social infrastructure properties across the Nordics, as well as rent-controlled residential buildings in Sweden. They are also active in property development.
