NCR comments: HEBA Fastighets Aktiebolag 2020Q2 report
Our 'A-' issuer rating on Swedish property company HEBA Fastighets Aktiebolag (HEBA) is unchanged following the publication of its second-quarter results.
Real Estate
NCR comments: Intea Fastigheter AB (publ) 2020Q2 report
Our 'BBB+' issuer and issue ratings on Swedish property company Intea Fastigheter AB (publ) are unchanged following the publication of its second-quarter results.
Axfast AB (publ)
Axfast is a commercial property management company focusing on high-end and centrally located properties in the Stockholm region. Having previously held properties in both Gothenburg and Uppsala, the company now focuses entirely on office, retail, hotel and logistics properties in Stockholm. The company's primary strategy is to manage multi-use properties for office and ground-level retail and restaurants and to grow via large one-off acquisitions and development in Stockholm's central business districts.
NCR comments: Vacse AB (publ) Q2 2020 report
Our 'BBB+' issuer and issue ratings on Swedish property company Vacse AB (publ) (Vacse) are unchanged following the publication of its second-quarter results.
LSTH Svenska Handelsfastigheter AB (publ)
Svenska Handelsfastigheter is a commercial property management company focusing on easily accessible retail properties with long-term, low-cyclicality tenants. Founded in 2015, The company has grown rapidly through new-builds and acquisitions. It is owned by management and board members, together with three pension funds: Fjärde AP-Fonden, Kåpan Pensionstiftelse, and Länsförsäkringar Liv Försäkrings AB.
Logistics property operators ride out COVID-19 downturn
The Nordic logistics property sector appears to have defied widespread expectations of a marked slowdown.
Heba Fastighets AB (publ)
Heba was founded in 1952 and has been listed since 1994, with many of the original founders' families maintaining active ownership stakes. The company primarily manages and develops residential rental properties in the greater Stockholm area. It also manages community-service properties for care of the elderly, group homes, and day care facilities in the region.
Intea Fastigheter AB (publ)
Intea was founded in 2015 with support from pension foundations associated with, among others, Svenska Handelsbanken AB, SAAB AB and AB Volvo. The company is focused on highly specialised and purpose-built properties within the community services subsegment in Sweden. Specific markets served by Intea include the judiciary system, universities and public hospitals. Intea has chosen to avoid less-specialised community service markets such as care homes for the disabled and the elderly, nurseries, and schools, which are served by many of its peers.
NCR comments: Offentliga Hus i Norden AB (publ) 2020Q1 report
Our 'BB-' long-term issuer rating for Offentliga Hus i Norden AB (publ) is unchanged following the publication of its first-quarter results.
NCR comments: Svensk FastighetsFinansiering AB (publ) 2020Q1 report
Our 'BBB+' issuer and issue ratings for Svensk FastighetsFinansiering AB (publ) are unchanged following the maturity of recent bonds and the publication of first-quarter results by its owners.