Locum AB is one of Sweden’s larger property managers with a property portfolio of about 2.1 million square metres in the Stockholm region. The major tenants are healthcare institutions in Stockholm County. Stockholm County Council owns a large property stock that includes premises primarily used for healthcare. The book value of these properties is SEK 11.1 billion, and they represent a significant portion of the County Council’s total assets. Locum AB has been assigned by the owner to manage this property stock. This includes responsibility for rentals, property development and other property transactions. The healthcare properties are nearly always located in central portions of the catchment area. University and emergency hospitals are normally situated in urban centres, community healthcare is more spread out and also governed by requirements for easy accessibility. County Council-owned healthcare units are not obliged to choose Locum as a landlord, even though Locum premises should be given first preference. Locum also leases premises on the external market for the County Council’s various activities. These are mostly premises used for healthcare not tied to the large hospitals and where the County Council does not have suitable premises of its own. A growing part of operations relates to other property-linked services, known as facility management services. Locum AB is 100% owned by the Stockholm County Council. The County Council’s properties are carried as assets in a separate profit unit on the County Council, Landstingsfastigheter Stockholm (LFS – Stockholm County Council Real Estate), where the properties’ revenue, costs and earnings are reported. The owner’s long term return requirement for the property management operations at LFS is 7% on equity.