DLA Piper advises Castlelake, L.P. on the establishment of a joint venture with SBB

DLA Piper has advised Castlelake L.P., an international alternative investment firm specializing in asset-based private credit investments, on the establishment of a new joint venture with Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB"), a significant social infrastructure property company in the Nordic region. This joint venture will generate cash proceeds to SBB of approximately SEK 5.2 billion (EUR 470m).

The funds will be used by SBB Infrastructure to acquire properties from SBB and refinance debt, with the loan secured by a portfolio of social infrastructure and purpose-built care assets across Sweden, as well as additional collateral in Finland. The estimated market value of these assets is SEK 5.7 billion, with the total pool of collateral for the loan reaching SEK 9.4 billion.

The DLA Piper team in Sweden was led by Finance and Real Estate partners Carl Schwieler and Mats Eriksson, the Finnish team was led by Finance and Real Estate partners Mikko Luukkonen and Mikko Larvala, the UK team was led by London-based partners in the Finance practice, Paul Gray and Lewis Gaut and the Luxembourg team was led by Finance partner Xavier Guzman. They were supported by a cross-jurisdictional team of partners, legal directors, counsels, senior associates and associates spanning the UK, Sweden, Finland and Luxembourg.

With a track record of investing in asset-based opportunities since 2006, Castlelake has invested over €7.2 billion and acquired or financed more than 8,000 assets across 16 European countries. DLA Piper, along with CBRE, advised Castlelake on this significant transaction.

The DLA Piper team consisted of: Carl Schwieler, Gustaf Ström, Mats Eriksson, Jonas Premfors, Erik Brändt Öfverholm, Karin Attorps, Anders Svensson Clark, Tim Hagberg, Emil Alexanderson, Hugo Ahlner, Hanna Medelius, Therese Isaksson, Oskar Fröberg, Erik Hellem, Felicia Lindstrand, Maja Wiklund, Lilia Olsén, Mikko Larvala, Mikko Luukkonen, Antti Paloniemi, Petteri Larnimaa, Johanna Smalén, Iiris Tuohimaa, Paul Gray, Lewis Gaut, Marcus Lovatt, Alexandre Oliveira, Neil Thomas, Chloe Coles, Natalie Webb, Hugo Ahlner, Rob Salter, Xavier Guzman, Luis Muñoz, Ignacio Jiménez Guardiola, Kateryna Lahodivets, Mélody Brunot, Cyril Poels and Clement Bourdon.