Sveafastigheter acquires 34 Assisted Living properties

Seniorbostäder i Sverige is a privately owned company that has been active within the LSS segment for about 20 years.

The property portfolio, which is spread over southern and middle Sweden, will be part of Högkullen Assisted Living (“Högkullen”), owned by Sveafastigheter together with Residenset as co-owner and asset manager. Högkullen took possession of the properties on 12 February, 2014 and thereby expanded the portfolio to comprise 124 properties with LSS residentials.

– The acquisition of another 34 properties secures Högkullen’s position as Sweden’s largest private property owner within the LSS segment. The portfolio is a great complement to the existing assets and strengthens our strategic clusters of LSS-residentials, says Mikael Pehrsson, Senior Associate at Sveafastigheter.

LSS refers to the Swedish Law about support and service to disabled persons (Lagen om stöd och service till vissa funktionshindrade 1993:387), which aims to provide good living conditions for disabled persons. LSS residentials are smaller, suited group- or service homes with access to professional assistance. By capitalising on scale, Högkullen will increase the quality and service level for both tenants and residents.

Nordier has been the seller’s advisor, while MAQS and PwC have been the buyer’s advisors for the transaction.