The acquired property is located in Asker, south west of Oslo. The property’s detailed plan has gained final approval for 570 apartments. The acquisition will be reported in the balance sheet in the JM Residential Stockholm business segment during Q1 2018.
The property is part of a larger development area, Vestre Billingstad, in which, approx. 1,600 residential units will be built.
“We are very happy to be taking possession of the property at the same time as we have started sales of the first phase, Bergerløkka, with 47 apartments. The Billingstad area is nicely located for residences and initial interest has been great,” says Hilde Vatne, Regional Manager, JM Oslo Region.
JM Acquires Property Outside of Oslo
Norway — JM has signed an agreement with the Norwegian pension company KLP for the acquisition of the Bergerveien 12 property in Asker. The deal is worth approximately EUR 33M. Occupancy of the property will take place during Q1 2018 and payment during Q2.<br />
Maria Olsson Äärlahtmaria@nordicpropertynews.com