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Aktiespararnas analyst Robert Andersson on SBB's struggles on the stock market and the company's pressured position.

Major stock drop for SBB: "A dysfunctional company given the interest rates"

Sweden Sweden — SBB's B share plummeted over 16 percent on Monday and continued to drop slightly during Tuesdays early trading. On Monday evening the credit rating institute Fitch announced that it has lowered SBB's credit rating another five notches, down to B- from the previous BB+. Aktiespararnas analyst Robert Andersson says that SBB in its current form is a dysfunctional company given today's interest rates. "Either the company has to change or it will go under," he tells Nordic Property News.
TOP 4 Nordic
Peter Wallin, CEO, and Jon Johnsson, CFO, at Bonava.
Nordic Nordic —
“We are really pleased with Bonava's regional exposure”
David Mindus, CEO of Sagax.
Nordic Nordic —
Sagax acquires seven properties
Nordic Nordic —
Areim exec exits the company
Henrik Bastman.
Nordic Nordic —
Following the acquisitions in Finland – Storebrand Real Estate looks at new opportunities
Gothenburg.

Hemsö acquires school in Gothenburg

Sweden Sweden — Odinsskolan is a historic school building in central Gothenburg with an attractive location. The building has a lettable area of approximately 4,000 square meters and the investment amounts to approximately SEK 170 million (approximately EUR 14 million).
The new police building that is set to be built in Västerås, Sweden, in a joint collaboration between SBB and K2A.

Swedish police agency wants to terminate lease agreement with SBB and K2A

Sweden Sweden — The police authority wants to leave the agreement regarding the construction of the new police station in Västerås, and the reason stated is that the costs have dragged on, something that the local newspaper VLT was the first to report on. The construction is run by the company Slaggborn, which is owned 50/50 by K2A and SBB, but from the contractor's side they put a lid on the situation and the company's project manager Per Högdin leaves only one comment to Nordic Property News.
Per Nilsson, CEO of John Mattson.

Full focus on interest hedging in John Mattson

Sweden Sweden — John Mattson sees conditions to be able to make more transactions if needed CEO Per Nilsson says. Beside making a number of divestments during the year, the company has now put forward a plan to reduce the amount of electricity purchased in order to lower the cost and at the same time increase the property value.
Helsinki.

Slättö expands in Finland – partnering in hospitality segment

Finland Finland — Slättö continues its growth in Finland and expands its portfolio within the hospitality segment. The investment is made in collaboration with tech-powered, short-term rental operator Bob W in a brown-to-green refurbishment in Kasarmikatu 40, central Helsinki.
Eva-Lotta Stridh.

SBB's CFO leaves the company

Sweden Sweden — SBB announces that CFO and Deputy CEO Eva-Lotta Stridh has decided to leave her position. Eva-Lotta Stridh has been the CFO of SBB since 2016 and will remain in her position during the period of notice of three months.
Danske Bank's office at Norrmalmstorg in Stockholm.

Danske Bank extends lease with Hufvudstaden

Sweden Sweden — Danske Bank is extending its lease agreement with Hufvudstaden, which will see the bank remain at its iconic 1930s site at Norrmalmstorg 1 in Stockholm.
Genesta founder Anders Palmgren.

The founder leaves Genesta – for the last time

Nordic — Genesta is an independent property fund company with a focus on commercial properties in the Nordics. It is also the company that Anders Palmgren co-founded almost exactly 20 years ago. Close to the anniversary, however, it is clear that the partner and senior director with a focus on transactions and capital raising will leave his post. Nordic Property News had a conversation with him about why he came to the decision.
Kojamo CEO Jani Nieminen during the presentation of the company's 2Q report.

Kojamo could lay off up to 80 employees

Finland Finland — In yesterdays Q2 report, Kojamo announced that they are launching a savings program with the aim of maintaining the company’s profitability. During the presentation of the report, CEO Jani Nieminen said among other things that the measures could lead to a maximum of 80 employees being laid off from the company.
Savills IM appoints new head of Equity Investments in UK and Europe.

Savills IM appoints new head of Equity Investments in UK and Europe

Nordic — Kevin Aitchison is appointed to the new role of Managing Director, replacing Kiran Patel, Deputy CEO and Global CIO, who is set to retire in 2024 and assume an advisory role.
Kestutis Sasnauskas, CEO of Eastnine.

Eastnine completes currency exchange of MFG settlement

Nordic — Eastnine has carried out currency exchange of the purchase price received from the sale of the holding in the Russian fashion chain Melon Fashion Group (MFG). After exchange the amount is approximately EUR 144 million.
Corem and Alm Equity have now sealed the Klövern-deal with Nrep.

Corem and Alm Equity seals the Klövern-deal with Nrep

Sweden Sweden — The deal that was communicated on July 3 between Nrep and Corem Property Group, Alm Equity and Broskeppet Bostad was carried out on Thursday, according to two separate press releases from Corem and Alm Equity.
Kungens Kurva shopping center.

Ingka Centres expands shopping center in Stockholm

Sweden Sweden — Ingka Centres announces new investment of around EUR 170 million into one of Scandinavia's busiest commercial areas.
Fredrik Sandell.

Fredrik Sandell appointed new Head of Finance at Rikshem

Sweden Sweden — Fredrik Sandell becomes the new Head of Finance at Rikshem. He joins from the property company Humlegården. Fredrik Sandell takes up his new position in October 2023 and replaces Christina Fernström.
Daniel Kjørberg Siraj, CEO of Obos.

Obos' CEO: "The market is not completely dark – but demanding"

Nordic — We have more tools and greater flexibility than most," says Obos CEO Daniel Kjørberg Siraj to Nordic Property News after the second quarterly report. The company reported a profit before tax in the second quarter of SEK 1,218 million, an increase from SEK 542 million from the year before. However, housing sales have more than halved.
Skanska.

Skanska envisions twelve tough months ahead

Nordic — During the last week of July, Skanska presented its second interim report for the year. Although building/construction reaches record levels, times are tough especially in housing development. Magnus Persson, CFO said that despite the increasing number of unsold homes is expected to increase and no projects being started, there are glimmers of light.
Jani Nieminen, CEO of Kojamo.

Kojamo starts savings program

Finland Finland — Kojamo is launching a savings program in light of the fact that the uncertainty prevailing in the financial and housing markets poses a significant risk to the company's profitability. In the company's Q2 report total revenue increased by just over 8 percent, while profit before tax fell to EUR 72 million.
Areim has recruited Martin Stenbjerg Jensen (left) to join the investment team in Denmark. To the right is Peter Frische, Head of Areim Denmark.

Areim strengthens the team in Denmark with Martin Stenbjerg Jensen

Denmark Denmark — Areim has recruited Martin Stenbjerg Jensen to join the investment team in Denmark. Martin joined Areim in August and will primarily be working with transactions in the Danish market, but also across the Nordics.
Markus Myllymäki, CEO of Toivo Group.

Major challenges on the Finnish residential market

Finland Finland — Toivo Group’s CEO Markus Myllymäki: “Only the best projects can be launched.”
Joakim Arvius, CEO Colliers Sweden.

Colliers Sweden is pushing forward with new recruitments

Sweden Sweden — Colliers is increasing its presence in the Nordics and Sweden. One step in being able to advance the positions is the recruitments that the company has made, to strengthen within letting and tenant service.
Wihlborgs.

Wihlborgs makes changes in nomination committee

Sweden Sweden — Länsförsäkringar Fondförvaltning appoints Johannes Wingborg as a member of the Nomination Committee for the Wihlborgs' 2024 AGM.
Lille Løren.

Veidekke builds more residential units in eastern Oslo

Norway Norway — Nordr and Selvaag Bolig have awarded Veidekke the contract to also build the third and final stage in the Lille Løren Park project in eastern Oslo.
Antti Muilu, country manager Niam Finland, and the acquired office premises.

Requirements for Niam when making office investments

Finland Finland — Antti Muilu, country manager Niam Finland, on the recent office acquisition in the booming Helsinki area, and why remote working has an important impact in decision making, going forward.
Nordic Property News lists the vacancy rates among the listed real estate companies in the Nordics.

Q2 2023: The companies with the highest and lowest vacancy rates

Nordic — Nordic Property News presents a list of the current vacancy rates among the listed Nordic real estate companies.
SLP.

SLP acquires property in logistics area

Sweden Sweden — SLP has, through a corporate transaction, acquired and taken possession of the property Vaggeryd Stödstorp 2:22 in Stigamo outside Jönköping.