JM sells senior housing in Sköndal, Stockholm

JM has reached agreement for the sale of senior housing currently under construction in Sköndal, south of Stockholm. The project is being implemented by JM’s subsidiary Seniorgården AB that develops residential care housing in partnership with Stiftelsen Stora Sköndal (Stora Sköndal Foundation). The transaction is worth SEK 211 million.

The project will comprise 108 apartments with a total residential floor space of 7,040 square metres. Income and profits from the deal will be reported on a running basis between 2013 and 2014 within the JM Property Development business segment.

The buyer is Malmegårds Fastighets AB who will take possession on project completion planned for the second quarter of 2014.

“We have a close working relationship with Stiftelsen Stora Sköndal and are developing two modern residential care housing facilities. It is reassuring that the project is being acquired by Malmegårds Fastighets AB who have extensive experience of active management,” says Birgitta Seeman, CEO Seniorgården.

For additional information, please contact:
Lars-Olof Höglund, Head of JM Property Development: +46 8 782 8983
Birgitta Seeman, CEO Seniorgården AB: +46 8 626 6632
Anders Stålhammar, Communications Manager, JM AB: +46 8 782 1918

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 2,200 employees. JM AB is a public limited company listed on the NASDAQ OMX Stockholm, Mid Cap segment.

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