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JM acquiring additional property in Liljeholmen, Stockholm

Press release 10/28/2014 1:50 PM

JM is acquiring the leasehold rights to part of the Årstaäng 4 property in Liljeholmen, Stockholm from Fastighets AB Balder. The deal is worth SEK 198m. Occupancy and payment are expected during Q3 2015.

The local plan allows development of just over 200 residential units. There is currently a commercial building on the property that will be demolished; this work will begin at the end of 2015.

"It is gratifying that we will be able to develop Liljeholmen further with the acquisition in Liljeholmen/Marievik, where we have already built 2,500 residential units over the past few years. The property has a very attractive central location in the area close to service, water and beautiful green areas," says Mikael Åslund, Regional manager for JM Residential, Stockholm City Region.