Magnolia Bostad finalizes deal with JM

Magnolia Bostad completes transaction of the property Uppsala Kungsängen 44: 1, previously part of Uppsala Kungsängen 25: 1. Agreement to divestment was signed with JM in December 2012 by the previous owners. After completion of local planning and final divestment of land, JM is accessing the property-owning company.

The property is located adjacent to the Magnolia Bostads projects Senapsfabriken phase 1-3 comprising of development of 1 800 residential units. The district Kungsängen is located in Uppsala's southern part and is an area that is undergoing a transformation from industrial to an attractive residential area in central Uppsala.

The transaction will not have an considerable impact on earnings for Magnolia Bostad.

– The sale of the land to JM was conducted before Magnolia Bostad acquired the property and the price was determined in an agreement between the former owners and JM. Our role has been to finalize the deal which was initiated by the former owners, says Erik Rune, VP, Magnolia Bostad.

For more information, please contact: 

Erik Rune, VP

+46 73 399 40 30, erik.rune@magnoliabostad.se 

Mikaela Senator, IR manager

+46 70 775 57 57, mikaela.senator@magnoliabostad.se 

Magnolia Bostad develops efficient, attractive and functional residential properties, including rental apartments, tenant-owned apartments and hotels, in attractive locations primarily in Sweden’s growth areas. Our work is based on a holistic approach where the operations are conducted in a manner that promotes long-term, sustainable urban development. Magnolia Bostad's share (MAG) is listed on Nasdaq First North. Erik Penser Bank is the Certified Adviser for the Company. More information is available at www.magnoliabostad.se

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