Swedish real estate developer JM has sold two senior housing projects in Stockholm to KPA, part of the Folksam Group, and Sockholm-based property company Diligentia. The total purchase price is SEK 209 mln (EUR 20 mln), the majority of which was received in November. The company said that it has booked capital gains of SEK 28 mln for the fourth quarter of 2009.
Swedish real estate developer JM has sold two senior housing projects in Stockholm to KPA, part of the Folksam Group, and Sockholm-based property company Diligentia. The total purchase price is SEK 209 mln (EUR 20 mln), the majority of which was received in November. The company said that it has booked capital gains of SEK 28 mln for the fourth quarter of 2009.
JM has disposed of the Ymerplan and Lillängen senior housing schemes, with 5,400 m2 and 2,700 m2 of space respectively, in Sigtuna and Nacka, Stockholm. The properties offer a total of 117 apartments.
JM is a leading Swedish property developer active in Sweden, Norway, Denmark, Finland and Belgium. The company is listed on the Nordic Stock Exchange.
