SBB has sold two properties to the tenant Stiftelsen Diakonissehuset Lovisenberg. The properties being sold are the hospital on Ragnar Stroms Veg 10 in Ullensaker of which SBB owns 100% and an adjoining development plot of which SBB today owns 65%, co-owning with a local developer. The properties have an annual rental income of c. €10.5m at the 2024 price level and an estimated net operating profit of €10m, implying an initial yield of 4%. The sale is done c. 10% below book value per Q2 2023.
"The relationships with our tenants are one of our greatest assets and we have previously said that we are open to dialogues with both private and public tenants who want to acquire properties where they themselves are tenants," said Leiv Synnes, CEO of SBB.
Stiftelsen Diakonissehuset Lovisenberg is today one of the company's largest tenants and will after the sale remain a significant tenant. Handover is planned for September 29 and SBB intends to use the net proceeds from the transaction of c. €83.8 to strengthen the company’s liquidity and financial position. As of this deal, SBB has now signed all deals linked to the letters of intent communicated on July 13, 2023.