JM selling and acquiring property in Österåker, Stockholm
JM is selling the Runö 7:153 property, intended for industrial purposes, and acquiring the Husby 4:36 property and part of the Husby 4:16 property for residential development in Österåker Municipality, north of Stockholm.
The Runö 7:153 property, with an underlying property value of SEK 12m, is being sold to Österåker Municipality. At the same time, JM is acquiring the Husby 4:36 property and part of the Husby 4:16 property. The value of the properties is SEK 38m. The plan is to develop the properties into 240 residential units.
Occupancy and payment for the properties will take place in Q2 2017. The acquisition will be reported within the JM Residential Stockholm business segment in Q2 2017. The sale of the Runö 7:153 property will result in earnings of SEK 8m, and will be reported in Q2 2017 under the JM Property Development business segment.
For additional information, please contact:
Pär Vennerström, Business Unit Manager JM Residential Stockholm and Business Unit Manager JM Property Development, +46 (0)8 782 89 12
Sepideh Imani, Head of Communication and Analysis, +46 (0)8 782 14 29
This information is information that JM AB 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 above, at 10:00 CET on 2017-06-22.
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 emphasis on expanding metropolitan areas and university towns in Sweden, Norway and Finland. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term sustainability work in all of its operations. Annual sales total approximately SEK 16 billion and the company has about 2,400 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment. More information is available at www.jm.se/en.