JM signs conditional agreement for the acquisition of property on Stora Essingen in Stockholm
JM has signed a conditional agreement to acquire the properties Ångtvätten 16, Tvålen 7 and Stora Essingen 1:4 following final approval for the local planning. The planned project includes approximately 230 residential units.
The properties are located on the north side of the island of Stora Essingen. They include more than 19,000 m2 of rentable space that consists primarily of commercial premises and a parking garage. The planned acquisition is part of a larger development area comprising around 700 residential units. The price will be agreed, and cash will be paid in conjunction with approval of the local planning, which is estimated to be finalized in 2022. The transaction will be reported in the JM Residential Stockholm business segment.
For additional information, please contact:
Mikael Åslund, Regional Manager, JM Stockholm City, +46 (0)8 782 89 11
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 2019-02-04.
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 2,600 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.