Fulufjället 1 comprises 27 apartments with a total lettable area of approximately 1,600 square metres that is exclusively housing. 

The price is based on an underlying property value of SEK 93 million before deduction for latent tax, which is SEK 4.2 million above the property’s carrying amount as of the fourth quarter of 2023. The estimated earnings impact from the transaction amounts to about SEK -0.6 million after deduction for latent tax and transaction costs as well as the reversal of recognised deferred tax. A realised change in value will be recognised for the second quarter 2024.

The sale will take place via a corporate wrapper.

“Our strategy includes continuously evaluating the composition of our property portfolio and making selective divestments with the aim of optimising the use of capital while concurrently strengthening the company’s capacity to manage higher interest rates,” says Per Nilsson, CEO of John Mattson.

The agreement is unconditional and John Mattson will transfer ownership of the property on 12 April 2024.

Wigge & Partners acted as transaction advisor to the vendor.