The acquired properties have an underlying property value of SEK 670 million before deduction of 25% for latent tax. The sellers were several private individuals via a corporate wrapper. Possession is scheduled for February 2022.

The acquired properties have prime locations near the Metro station entrance at Gullmarsplan in central Stockholm. They comprise a total of approximately 12,000 square metres of lettable area across three properties, of which approximately half are rental properties and the other half are commercial premises with tenants such as Hemköp, Systembolaget, a pharmacy and a health centre.

One element of John Mattson’s growth strategy is to acquire existing property portfolios in municipalities in the Stockholm region, in locations with good development potential and easy access to transportation. John Mattson is already present in the new development area of Söderstaden, which includes Gullmarsplan, through properties in Slakthusområdet and Johanneshov.

“The properties have a unique location. Gullmarsplan is a hub for Stockholm’s public transportation and an important part of the Söderstaden development area tying Globenområdet, Slakthusområdet and Gullmarsplan together. We look forward to developing Söderstaden together with the City of Stockholm and other property owners,” says Siv Malmgren, CEO of John Mattson.

The acquisition was financed through a combination of cash and shares, with approximately 50% of the price for the shares financed through a new issue of shares in John Mattson Fastighetsföretagen AB (publ). A non-cash issue of 672,208 shares, at an issue price of SEK 175.17 per share amounting to SEK 117,750,675, will be completed on the date of transfer, with the support of the authorisation from John Mattson’s Annual General Meeting on 22 April 2021. The share portion of the consideration will be covered through an additional non-cash issue of 859,930 shares, at an issue price of SEK 175.17 per share amounting to SEK 150,633,938, and is planned for April 2022. This additional non-cash issue requires a decision from John Mattson Fastighetsföretagen AB (publ) Annual General Meeting.

John Mattson’s legal advisor has been Wigge & Partners. The sellers advisor has been Tango.