JM Acquiring Property with Completed Local Plan in Skårer Syd, Oslo

Norway — JM has signed an agreement with Stor-Oslo Eiendom to acquire part of the company's property in Skårer Syd in Lørenskog north of Oslo. The transaction is worth approximately SEK 160 million (€16,87 M) with occupancy and payment planned for October 1, 2015.

2015-08-21

The property includes two areas in Skårer, which is a large development area in Lørenskog Municipality with a local plan for approximately 1,200 residential units. Based on the completed local plan, JM will build approximately 340 residential units, grocery store and commercial premises.

– This acquisition suits JM well. We can develop a large residential area over the course of several years and in very familiar surroundings due to our nearby Solheim Terrasse project. The area is located close to the Triaden shopping center. There are good schools and childcare facilities nearby, at the same time that both central Oslo and Gardermoen are easily accessible, says Hilde Vatne, regional manager for Oslo, JM Norway.

The transaction will be reported in Q3 2015 in the JM International business segment.

Henrik Ekberg

[email protected] http://www.fastighetssverige.se