JM acquiring land for residential units in Mölndal, Gothenburg

JM has signed an agreement with Kungsleden to acquire land for 140 building rights. Production start-up is planned for Q2 2020. The deal is worth SEK 117m. Occupancy and payment are expected to be completed during first half of 2019.The land being acquired is currently part of the Stiernhielm 7 property. It is centrally located in Mölndal, close to downtown Gothenburg. JM acquired Stiernhielm 6, an adjacent property, in 2013. With these acquisitions, it deemed possible to build a total of 225 residential units in apartment buildings. Work to produce a local plan is under way. The agreement