JM acquiring property in central area of Uppsala

JM is acquiring the Kungsängen 44:1 property at Kungsgatan 66 in central Uppsala, where the Slotts’ mustard factory was previously located. The transaction is worth SEK 117 m, with occupancy and payment planned for Q4 2016.The property is being sold by Magnolia Bostad AB (Moutarde Holding AB). The acquired property’s detailed plan has gained final approval, and sales for the first phase – 51 apartments of around 320 – will begin in Q4 2016. Production start-up is planned for Q2 2017, and initial occupancy is planned from Q4 2018. The transaction will be reported within the JM Residential