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Sign in Sign up for a FREE subscriptionSBB raises €204m from Morgan Stanley
Swedish property group SBB, through the newly established subsidiary SBB Residential Property AB, entered into a capital-raise agreement with an investment fund managed by Morgan Stanley Real Estate Investing (MSREI).
Pursuant to the agreement, SBB Residential Property AB will issue SEK 2.36 billion (€205 million/$229 million) of preference shares to MSREI.
“We are delighted to partner with Morgan Stanley Real Estate Investing, one of the leading investors globally in real estate,” said Leiv Synnes, CEO of SBB. “The transaction confirms the strong value proposition within our residential portfolio. The capital raise demonstrates the range of capital options available to SBB, further enhances our strategic flexibility and strengthens our group financial position. Together with other successful initiatives we have taken as part of our strategic review, we are working towards a transition to a stronger long-term financial profile.”
SBB will continue to co
