Global alternative investment manager Castlelake has entered into a joint venture agreement with Samhällsbyggnadsbolaget i Norden (SBB), a Nordic-based social infrastructure property. Castlelake will provide around €464 million ($503 million) of financing to SBB, which will be used to acquire properties and refinance debt.
The loan will be secured by a portfolio of social infrastructure and purpose-built care assets across Sweden with an estimated market value of SEK 5.7 billion (£0.55 billion), as well as additional collateral in Finland: taking the total collateral pool to SEK 9.4 billion ($0.91 billion). DLA and CBRE advised Castlelake on the transaction.
“We are pleased to form this relationship with SBB and provide a tailored financing solution which enables it to advance its business plans and seek to optimize their asset portfolios,” commented Eduardo D’Alessandro, partner, global real estates at Castlelake.
Castlelake enters joint venture agreement with SBB
