JM sells the office project K1 Karlbergs Strand in Solna, Stockholm

JM has signed an agreement with the Swedish Fortifications Agency for the sale of the office project K1 Karlbergs Strand in Solna. The transaction amounts to SEK 2.4 billion.

The property is under construction with planned occupancy in Q1 2025, which is when it is expected to be completed. The acquisition is conditional on a Government Decision, and payment will be made at occupancy. As of the Government’s decision, revenue and profit will be recognized gradually over the course of the build within the business segment JM Property Development.

The Swedish Fortifications Agency needs to use the entire property. K1 Karlbergs Strand is thus no longer available to be a new head office for JM.

“We are proud that we can assist the Swedish Fortifications Agency with an office building that will feature extremely well-designed and flexible office space,” says Mikael Åslund.

For additional information, please contact:
Simon Backe, Regional Manager JM Property Development Stockholm, +46 8 782 11 58
Katarina Jordell Rimmerfeldt, Head of Communications, +46 73 432 61 20

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 15 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.