JM acquiring property in Bromma, Stockholm

JM is acquiring the Masugnen 7 property in Bromma, Stockholm from Fabege AB. The transaction is worth SEK 243 million including deferred tax. Occupancy and payment are expected to be completed at the beginning of July 2013.

Local planning has been underway since 2011, and is planned to be completed during Q1 2015. The property is currently being used for offices and school activities. JM is planning to build around 250 tenant-owned apartments and a preschool on the property.

"The acquisition reinforces JM's opportunities to continue taking part in the development of Bromma and Stockholm where housing is in great demand. The property has a very attractive location close to both Bällstaviken and convenient public transit," says Mikael Åslund, regional manager for Stockholm City Region.

For more information, contact:
Mikael Åslund, Regional Manager Stockholm City Region. Tel: +46 8-782 89 11
Anna Dahlman, Press Office Phone: +46 8-782 88 63

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 13 billion and the company has about 2,300 employees. JM AB is a public limited company listed on the NASDAQ OMX Stockholm, Mid Cap segment.