Samhällsbyggnadsbolaget i Norden AB (SBB) has sold a portfolio of 545 rental apartments in southern Sweden to Kuststaden.
The properties included in the transaction with Kuststaden comprise a total of 38,900 square meters (149,000 square feet) of residential apartments. The purchase price was SEK 469.5 million ($46.73 million). The apartments are located in three Swedish municipalities: Västervik, Nybro and Vaggeryd.
“The deal shows once again that Swedish rent-regulated rental properties are very liquid and safe assets. In addition, it feels right to sell to the team at Kuststaden, who have strong local connections and who can continue to develop and refine the properties,” said Ilija Batljan, CEO and founder of Samhällsbyggnadsbolaget i Norden AB.
While the deal with Kuststaden is pending, a previously announced transaction with Nyfosa has been postponed. On Jan. 17, 2020, Nyfosa signed a letter of intent with SBB regarding the acquisition of property p
