Nyfosa enters Norway through joint venture

Regulatory

Nyfosa has decided to enter Norway together with the property company Samfunnsbyggeren AS. Nyfosa believes that over time there will be good business opportunities for an opportunistic industrial player in Norway and intends to build up a diversified property portfolio focused on Norwegian regional cities. With this step into Norway, Nyfosa complements its operations, today based in Sweden and Finland.

Nyfosa forms a joint venture together with the Norweigan property company Samfunnsbyggeren AS, 50 percent ownership each. The goal is to take advantage of business opportunities and build up a property portfolio of MDSEK 5–7 with a long-term perspective. The focus will be on regional cities in all segments except for community properties, but in line with Nyfosa’s opportunistic strategy, it is the business opportunities that determine how and at what pace the portfolio will develop. Norway’s property market is mainly characterized by fragmented and non-industrial ownership. An opportunistic property company such as Nyfosa is missing in Norway, thus Nyfosa’s joint venture intends to take that position.

Simon Venemyr Ottersland, main owner of Samfunnsbyggeren, will become the CEO of the joint venture. Samfunnsbyggeren has large knowledge of the Norwegian property market and a broad experience of transactions in the sector.

“We believe that interesting business opportunities will emerge in Norway and we want to be there when that happens. I have known Simon Venemyr Ottersland for a long time and know that he is the right person to work with in Norway. By adding this platform for business in Norway, we create additional opportunities for Nyfosa to grow profitably”, comments Stina Lindh Hök, CEO, Nyfosa.

“The fact that we are now establishing a joint venture together with Nyfosa, creates very good conditions for building an industrial property company in Norway. We know the people in Nyfosa well and we share the same view on business. With joint efforts, I believe we will have a big impact on the Norwegian market”, comments Simon Venemyr Ottersland, CEO, Samfunnsbyggeren AS.

For more information, please contact:

Stina Lindh Hök, CEO, [email protected], tel +46 (0)70 577 18 85

This information is information that Nyfosa is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-11-05 00:50 CET.

About Nyfosa

Nyfosa is a transaction-intensive real estate company that creates value by building sustainable cash flows and constantly evaluating new business opportunities. With our opportunistic strategy, we invest in properties in different geographies and categories. We are currently active on the Swedish and Finnish markets with a focus on commercial properties in high-growth municipalities. We manage and develop our properties in close collaboration with tenants and the surrounding community, with the perspective that sustainability and profitability go hand in hand. As of September 30, 2021, Nyfosa’s property value amounted to approximately SEK 34.5 billion. Nyfosa’s share has been listed on Nasdaq Stockholm Large Cap since 2018. Read more at www.nyfosa.se.

Attachments

Nyfosa enters Norway through joint venture