JM sells properties in Vaxholm (SE)

In a deal with a company within the Stena Sphere, JM acquires future building rights corresponding to 100 residential units in Näsby Park, Täby municipality outside Stockholm. At the same time, JM sells remaining properties in Vaxholm, approximately 340 apartments. This deal is the last sale of JMs residential portfolio in Vaxholm.

Entry date will be beginning of July. The result from the sale will be approximately €4 million (SEK 42 million) and will be reported in the second quarter of 2006. The agreement means a positive cash flow for JM of approximately €22.5 million (SEK 230 million), and will be available on entry.

Source: JM

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