Nordic housing developer JM has struck a deal to sell rental property project in Uppsala, Sweden, to Hemvist for SEK 348 mln (€30.6 mln).
The Lindblomman (Uppsala Ultuna 2:29) project in the new Bäcklösa residential area consists of 134 apartments across three buildings in an attractive and upcoming residential area.
Construction is expected to commence in Q3 2024, with revenue and profit gradually recognized throughout the project within JM's Residential Sweden business segment.
The transfer of ownership and full payment are planned for Q3 2026, upon project completion.
Per Johansson, regional manager, JM Residential Sweden, said: ‘The sale of Lindblomman strengthens the conditions for continued housing development in the form of newly produced rental properties in good locations here in Uppsala.’
