JM Acquires Rental Housing in Nälsta, Stockholm

JM has acquired, in an agreement with HEBA in corporate format, the property Gästabudet 2 in Nälsta, Stockholm municipality, with 102 dwellings and opportunities for additional projects in the future. The deal amounts to SEK 129 million, of which SEK 32 million comprises a deferred tax liability. Possession and payment are planned for July 2011. 

At the same time JM is selling land with associated contract for 77 rental homes in Råcksta in the Vattenfallet block to HEBA. The deal is worth SEK 167 million. Construction is planned to begin in June 2011 with completion in December 2012.

For further information:
Lars-Olof Höglund, Manager, Commercial Properties: +46 (0)8-782 89 83
Tomas Eriksson, Press Officer: +46 (0)8-782 86 61

JM is one of the leading developers of housing and residential areas in the Nordic region.  Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM shall promote long-term quality and environmental management in all its operations. Our annual sales total approximately SEK 9 billion and the company has about 2,100 employees. JM AB is a public limited company listed on the NASDAQ OMX Stockholm, Mid Cap segment.