Castlelake enters joint venture agreement with SBB  

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