The Barkassen 1 and Galeasen 2 properties are located in Baggeby, Lidingö. The properties are mainly residential and comprise a total of 83 apartments built in the 1950s and renovated in 2013 and 2018 as well as 43 garage- and parking spaces. The total lettable area amounts to about 5,700 square metres, where residentials comprise 97%. The sale will be conducted through a corporate wrapper.

The price is based on a property value of SEK 262 million, which is in line with their book value as of the third quarter. No compensation for latent tax applies as the transaction is being conducted through a corporate wrapper.

“Following a period of robust growth, we are continuing the consolidation of operations started in the second quarter. The properties are being sold at their book value, which confirms the value contained in our property portfolio. The sale enables us to advance further toward our goal of a long-term loan-to-value ratio that does not exceed 50%,” says Per Nilsson, CEO of John Mattson.

The agreement is unconditional and John Mattson will transfer ownership of the properties on 1 February 2023.

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