Genesta makes acquisition in Jönköping.

Genesta Acquires from Infrahubs

Sweden Sweden — Genesta has signed an agreement to acquire a high-quality logistics property from Infrahubs. The property, completed in the end of 2022, is located along the E4 motorway in Jönköping. The total lettable area is circa 45,700 square meters and fully leased to Husqvarna with a long-term agreement. The acquisition is the sixth investment on behalf of Genesta's fifth fund GNRE Core Plus Open Ended, launched in 2021.
TOP 4 Nordic
Nordic Nordic —
Winners and losers on the stock market in April
Michael Swank.
Nordic Nordic —
The segments Blackstone consider attractive in the Nordics
Ingunn Andersen Randa.
Nordic Nordic —
Obos to allocate more capital into the Swedish market: "It's bubbling with positivity in the big cities"
Nils Styf, CEO of Hemsö.
Nordic Nordic —
“Our assessment is that property values have bottomed out”
Nansenløkka.

Skanska Invests in Residential with Obos

Norway Norway — Skanska invests a net of NOK 318M in residential projects with Obos in Oslo and Bærum.
Eva Landén, CEO of Corem.

Corem Signs New Lease Contract in New York

Sweden Sweden — Corem has signed another lease contract for approximately 605 sqm of office space at the project property 1245 Broadway in New York. The tenant, a finance and technology company, will move in during the first quarter of 2024 and the lease term is 5 years.
Aktiesparna's general counsel Sverre Linton on the crisis at SBB.

"The Worst Thing that Could Happen to Ilija Batljan"

Sweden Sweden — SBB's B-share had its worst day ever on the stock exchange and dropped more than 24 percent on Tuesday, a further deterioration after Monday's loss of just over 20 percent. The collapse in SBB also dragged the entire real estate sector with it, which fell by more than 4.5 percent. Aktiesparna's general counsel Sverre Linton tells Nordic Property News that SBB is an incredibly pressured company that now needs to find convincing solutions to resolve its refinancing. He also gives his view on Ilija Batljan's future in the company.
David Mindus, CEO of Sagax.

David Mindus: "With Great Risk Comes Great Opportunity"

Sweden Sweden — Sagax goes against the grain and reports an increased management result of 20 percent in the first quarter, compared to Q1 2022. CEO David Mindus tells Nordic Property News how he sees the transaction market in the company's segment: "Many want to see the market more stabilized before making large investments."
CEO Sonja Horn and CFO Anders Olstad.

Out with the Old and the New in Entra's latest Major Divestment

Norway Norway — Entra has sold two properties in Oslo for almost NOK 1.5 billion. The buyer is NREP and the disposals were made at approximately one percent below book value according to Entra. For Nordic Property News, Entra's CFO Anders Olstad talks more about the background to the deal, why the property were sold below book value and what the ambition for their assets looks like going forward.
Laura Tarkka.

Laura Tarkka New Head of Scandic Hotels in Finland

Finland Finland — Scandic Hotels has appointed Laura Tarkka as new country head of the Group’s operations in Finland as well as a member of Scandic’s Executive Committee.
SBB's B share fell almost 20 percent on Monday, the second worst day for the stock ever, and the D share fell even more by over 26 percent.

SBB Slaughtered on the Stock Market after Downgrade

Sweden Sweden — SBB's B share fell almost 20 percent on Monday, the second worst day for the stock ever, and the D share fell even more by over 26 percent during a blood-red day on the stock market for Ilija Batljan's real estate company. The sharp decline came after credit rating agency S&P downgraded SBB's credit rating to BB+, or "junk status", with a negative outlook. Read SBB's comment on the downgrade and parts of S&P's negative analysis.
Ilija Batljan, CEO of SBB Norden.

SBB Stops Payment of Dividend and Revokes the Rights Issue of Ordinary D-shares

Nordic — The board of directors SBB announces its intention to stop the resolved payment of dividend and instead postpone the payment date to occur at the latest ahead of the annual general meeting 2024. The company also declares that it will not carry out the previously announced rights issue of ordinary D-shares of SEK 2.63 Bn.
Pär Hammarberg.

New CEO Appointed for Cofactor Property Development

Sweden Sweden — Pär Hammarberg becomes the new CEO and business area manager for Cofactor Property Development.
Andreas Wallström, head of prognosis at Swedbank.

This Economist Guarantees that Inflation Will Start to Fall

Sweden Sweden — Swedbank's head of prognosis, Andreas Wallström, is absolutely certain that inflation will begin to fall, but the forecast includes continued interest rate increases from the Riksbank on a number of additional occasions. At the same time, he wants to see more incentives for municipalities and regions.
Sonja Horn, CEO at Entra.

Entra Divests Two Properties for NOK 1.5 billion

Norway Norway — Entra has sold the properties Akersgata 51 and Tordenskioldsgate 6 in Oslo for a total transaction value of NOK 1.473 billion, which is approximately one per cent below book values as of 31 March 2023.
David Mindus, CEO of Sagax.

Sagax Invests in Five Countries

Nordic — Sagax has through nine separate transactions acquired 16 properties for the equivalent of SEK 529 million.
Nordika's asset Säterinportti in Helsinki.

Nordika Gears Up for Finnish Expansion

Finland Finland — Nordika continues its development in Finland through the establishment of a local team and an office in Helsinki. Robert Högström, head of administration at Nordika, tells Nordic Property News about the new recruitments, how he views the Finnish market and how much Nordika aims to invest in Finland in the future.
SBB.

Head of IR Leaves SBB

Sweden Sweden — SBB's Head of IR, Marika Dimming, has left the company, according to Dagens Industri.
Tervakoski school.

YIT to Build School in Janakkala

Finland Finland — The municipality of Janakkala has chosen YIT to build the new school and multipurpose centre in Tervakoski. The total value of the contract is approximately EUR 17 million.
Rikard Henriksson, Managing Partner at Niam.

Niam Invests Further in Danish Terraced Houses

Denmark Denmark — It is difficult to put your finger on why it differs between Sweden and Denmark when it comes to the interest in renting a terraced house. That's what Rikard Henriksson, managing partner at Niam, thinks. The interest is so great that they are now joining forces in a joint venture with Danish Milton Huse to further develop that side of property development.

Castellum Resolves New Share Issue of SEK 10 Billion

Sweden Sweden — Castellum resolves on a fully underwritten rights issue of approximately SEK 10 billion and announces terms.
Eslöv's distillery.

NCC Will Construct Residential Units and Offices in Southern Sweden

Sweden Sweden — In collaboration with Eslövs Bostads AB (Ebo), NCC is to construct residential units and offices in the former distillery (Sw: spritfabrik) in Eslöv. The order value is approximately SEK 320 million.
Tom Leahy, Head of EMEA Real Assets Analytics.

Office Transactions at All-Time Low in Europe

Nordic — Office investment has fallen to an all-time low in Europe and fewer office properties were sold in the first quarter of the year than during the financial crisis, MSCI Real Assets' latest report shows. Nordic Property News does a segment-by-segment review with the help of MSCI's chief analyst Tom Leahy.
Nordika hires three new employees in Finland.

Nordika Opens New Helsinki Office – Recruits Three Persons

Finland Finland — Nordika is establishing its own team and opening a new office in central Helsinki.
This is how the listed nordic real estate companies performed on the stock market during April.

Winners and Losers on the Stock Exchange in April

Nordic — It was a mixed bag in April for the real estate sector, with some strong climbers and some heavier bottomers. Nordic Property News presents a list of how the companies performed on the stock exchange during the fourth month of the year.
Kestutis Sasnauskas, CEO of Eastnine.

Eastnine Confident of MFG Sale: "Ongoing Discussions"

Nordic — Eastnine have had a hard time trying to sell its stake in the Russian fashion company Melon Fashion Group, a holding that accounts for almost a quarter of the company's assets. After the aborted deal in March, the company is now holding discussions with other potential buyers, and here CEO Kestutis Sasnauskas explains why he is confident that the company can be sold at the same level as was agreed in connection with the broken deal. He also comments on what must happen if a sale is not possible.
Eva Landén, CEO of Corem.

Corem Divests a Property in Denmark

Denmark Denmark — Corem has signed an agreement to divest a property outside Copenhagen at an underlying property value corresponding to SEK 290 million, which is in line with book value.
Wästbygg.

Wästbygg Lays Off 70 and Shuts Down Inwita Fastigheter

Sweden Sweden — Wästbygg plans to implement personnel cuts of approximately 70 positions. At the same time, Inwita Fastigheter, the group's company for management and ownership of self-developed community properties, is to be shut down.