JM sells 57 Homes in Copenhagen

JM has sold 57 apartments in the Lanternen and Egholm projects in downtown Copenhagen to a private investor for the purchase price of about SEK 225m. Occupancy and payment will take place in late 2008 and the middle of 2009, respectively.

The buyer intends to use the apartments as rentals.

Lanternen is part of the Islands Brygge area and consists of 73 freehold apartments. The area is located at the entrance to the harbor. Occupancy is expected during 2008.

Egholm consists of 165 freehold apartments close to the water. The homes are being built on an island surrounded by canals. The project is part of Copenhagen's new Sluseholmen neighborhood. Occupancy is expected during 2009.
More information about the Lanternen and Egholm projects is available at www.jmdanmark.dk