JM acquiring building rights for development of 400 residential units in Västerås
JM has signed an agreement with Kungsleden AB to acquire the property Västerås Isolatorn 12. The deal is worth approximately SEK 120 million. Occupancy and payment will take place after the detailed plan has gained legal force, which is estimated to occur in Q2 2021.The detailed plan is expected to allow the development of around 400 residential units and potentially a preschool. This acquisition gives JM access to an attractive development area in Emaus, Västerås. The acquisition will be reported within the JM Residential Sweden business segment, East Region, in Q2 2021. “The property