JM Property Development has signed an agreement for the sale of a rental property located in Jarfalla, Stockholm. The transaction amounts to c. €44.2m.
The property being sold is the project Flora, which consists of 155 residential units and is part of the larger development area Soderdalen in central Jarfalla, where JM implements housing projects with various forms of tenure. The property is under construction with a planned transfer of legal title in the third quarter of 2025, which is when construction is expected to be completed.
The development of rental units in Soderdalen has enabled a higher pace and faster realization of value in residential development, with tenant-owned units and rental units being completed in parallel.
“We are pleased that newly produced high-quality rental properties are in demand. The sale of Flora strengthens the conditions for investments in new projects within the framework of our strategy to develop rental properties on our own land,” said Nicklas Backfjard, Manager JM Property Development.
Image source - Pexels.
Europe Real Estate — an overview of real estate developments in European countries.
