JM optimizes Stockholm portfolio with building rights swap

Nordic residential developer JM has made a strategic move to optimise its building rights portfolio in the Stockholm area.

Lövholmen - JM

The company has reached an agreement with Wallenstam to divest 150 residential building rights in Lövholmen, Stockholm, while simultaneously acquiring 150 residential building rights in Älta, Nacka.
The divested building rights represent half of the Stockholm Färgeriet 4 property in Lövholmen, an area poised for approximately 300 residential units. This transaction is structured as a 50% corporate sale, based on an underlying property value of about SEK 280 mln (€25 mln). JM will receive SEK 140 mln (€12.5 mln) from the sale. The transfer and payment are set for March 2026.
Concurrently, JM is acquiring a property in Älta through a corporate transaction, with an underlying value of approximately SEK 45 mln (€4 mln). This property, part of Nacka Älta 19:2, comes with legally binding detailed plans allowing for the development of approximately 150 residential units in central Älta. The transfer of legal title and payment will occur upon completion of the cadastral procedure, expected in Q1 2027. The first phase of housing construction is planned to begin upon transfer of legal title.
Jon Vidar Semb-Josefson, regional manager Stockholm City within the JM Stockholm business unit, said: “This transaction fully aligns with JM’s strategic initiatives for optimising the building rights portfolio. We retain building rights for residential development in Lövholmen, which in the long term will be developed into a fantastic location in central Stockholm, while at the same time gaining the opportunity to start production of another strong project in the Stockholm area during 2027.”