JM selling rental property in Uppsala

JM has signed an agreement with Hemvist for the sale of a rental property located in Bäcklösa, Uppsala. The transaction amounts to SEK 348m.

The property being sold is the project Lindblomman (Uppsala Ultuna 2:29), which consists of 134 residential units located in the new attractive residential area Bäcklösa in Uppsala. The transaction will take the form of a corporate sale.

Production is estimated to start in the third quarter of 2024 and revenue and profit from the transaction will be recognized gradually over the course of the project within the JM Residential Sweden business segment. Planned transfer of legal title is during the third quarter of 2026, which is when construction is expected to be completed. Payment in full will be received in conjunction with the transfer of legal title in 2026.

– The sale of Lindblomman strengthens the conditions for continued housing development in the form of newly produced rental properties in good locations here in Uppsala, says Per Johansson, Regional Manager, JM Residential Sweden.

For additional information, please contact:
Per Johansson, Regional Manager, JM Residential Sweden, +46 73 432 53 44
Katarina Jordell Rimmerfeldt, Head of Communications, +46 73 432 61 20, press@jm.se

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 13 billion and the company has about 2,100 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.