JM creates a structure for long-term management of rental housing and transfers properties to a newly formed joint venture
JM is creating and taking responsibility for a structure for completed rental unit properties where JM has a commitment to secure long-term management. JM has entered into an agreement with the Swedish Foundation for Strategic Research and the Knowledge Foundation to create a joint venture for long-term ownership of rental properties that are primarily on land with leasehold rights. JM will own 20 percent of the newly formed company. In conjunction with the establishment of the company, JM is transferring rental unit properties with a market value of SEK 1,060 million, which entails a market