SBB Infrastructure gets €464 million secured loan

By Marisa Wong

Los Angeles, Feb. 27 – SBB Infrastructure AB obtained €464 million of financing from Castlelake, LP, according to a press release.

Alternative investment manager Castlelake had entered into a joint venture agreement with social infrastructure property company Samhallsbyggnadsbolaget i Norden AB (SBB).

SBB Infrastructure will use the loan to acquire properties from SBB and refinance debt to SBB.

The loan is secured by a portfolio of social infrastructure and purpose-built care assets across Sweden with an estimated market value of SEK 5.7 billion as of Dec. 31, as well as additional collateral in Finland, making the total pool of collateral used for the loan estimated to be SEK 9.4 billion.

The SBB real estate group is based in Sweden.

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