JM selling and starting production on rental properties in Västerås for SEK 160M

JM has signed an agreement with Lansa Fastigheter AB to sell two rental properties that will be built in Gideonsberg, Västerås. The deal is worth SEK 160m.

The properties that will be sold are Svärdsliljan 6 and 7, Västerås, which consist of two tower blocks of 9 and 10 stories, respectively. The project includes 69 space-efficient, Swan EcoLabel apartments. The project will start in Q2 2020, and and the legal title will be transferred upon the planned completion date in Q4 2021. Revenue and profit is recognized gradually within the business segment JM Residential Sweden as the project is implemented.

“We are pleased to carry out this attractive rental project in Västerås together with Lansa Fastigheter. Lansa Fastigheter is part of the group Länsförsäkringsgruppen, which has a long-term investment and management perspective,” says Per Johansson, regional manager of East Region.

For additional information, please contact:
Per Johansson, Regional Manager East Region, +46 (0)734 32 53 44
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 08:00 CET on 2020-04-29.

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 2,500 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.