SSM signs letter of intent for 1,200 building rights with a project value of 3.5 MSEK
SSM Holding AB (publ), Sweden’s leading housing developer when it comes to smart and affordable housing, has signed a letter of intent with Keyser Fastigheter AB for exclusive rights to acquire five industrial properties in Segeltorp, Rotebro, Spånga and parts of central Täby. The acquisition involves approximately 1,200 building rights corresponding to a project value of about 3.5 MSEK upon completion. The parties are expected to enter into the final agreement before the end of the third quarter 2018 at the latest once due diligence has been carried out.
SSM has signed a LOI with Keyser Fastigheter AB for the exclusive rights to acquire five industrial properties in Segeltorp, Rotebro, Spånga and parts of central Täby, corresponding to a total floor space of 60,000 m2, that are expected to give the company 1,200 building rights.
SSM plans to use the building rights to develop rental units and cooperative apartments. The total value of the project is estimated at 3.5 MSEK upon completion.
The purchase price is subject to the approval of the city plan in each respective project and will be paid upon access, which is scheduled for 2021 – 2023. More information about the acquisition will be provided in connection when SSM enters into the final agreement, which is expected to take place at the latest before the end of the third quarter 2018.
- We are extremely satisfied to have signed this letter of intent with Keyser Fastigheter. The properties are all strategically located within walking distance of public rail transport, something our target group considers highly important when choosing a home, says Mattias Roos, President & CEO of SSM.
Keyser Fastigheter AB, which is part of EA-gruppen, is a real estate company that owns and manages commercial properties in the Stockholm region.
The information in this press release is such, which SSM Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07.30 CET on March 26, 2018.
For more information, please contact:
Chief Communications & IR Officer
Phone: +46 761 65 17 71
About SSM Holding AB (publ)
SSM produces smart and affordable homes with attractive common areas, close to public transport and the city center for the company’s target group — the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible and aspires to produce 60 percent cooperative apartments, 30 percent rental units and 10 percent student housing. SSM is the leading property developer in its niche within the Greater Stockholm area and in March 2018, the company has approximately 7,000 building permits in its portfolio. SSM was listed on Nasdaq Stockholm (Mid-cap) April 6, 2017 www.ssmlivinggroup.se