The Älgen 24 property is in central Stockholm on Brahegatan in Östermalm. It consists primarily of premises for elderly care, healthcare and preschools. The property also includes 30 apartments and 129 parking spaces. The total lettable area amounts to 9,000 square metres, where residentials comprise 33 percent. The price is based on an underlying property value of SEK 800 million before deduction for latent tax and exceeds the property’s carrying amount as of the first quarter of 2022, which was SEK 37 million. The sale will take place via a corporate wrapper.

“The acquisitions of HEFAB and EFIB in 2021 encompassed some 100,000 square metres of lettable area and primarily strengthened John Mattson’s presence in west, central and south Stockholm. The property currently being divested and the two properties divested two weeks ago were part of the portfolio acquired in 2021. These sales comprise part of the plan prepared for the acquisition of HEFAB and EFIB. We are now refining our geographic focus and improving the preconditions for conducting more efficient and value-creating property management. The properties have been sold above their book values, which confirms the value contained in our property portfolio. Moreover, we have made clear progress toward a lower loan-to-value ratio through these sales,” says Per Nilsson, CEO of John Mattson.

The agreement is unconditional and John Mattson will transfer ownership of the property on 30 September 2022.

Tango and Wigge & Partners have acted as transaction advisors for the seller.