JM sells residential project in Espoo

Nordic residential developer JM has signed an agreement with IceCapital for the sale of a rental housing project in Espoo, part of the Greater Helsinki area.

The deal is valued at approximately SEK 190 mln (€16.3 mln).

The property, located in the Finnoo district, comprises 73 residential units and marks the third project JM has sold to IceCapital in recent months. Construction is scheduled to begin in Q2 2026, with completion expected by Q2 2027.

The sale will be executed as a corporate transaction, with revenue and profit recognised progressively throughout the project under the JM Finland business segment starting in Q2 2026. Payments will be received on a rolling basis until completion.

Markus Heino, Business Unit manager JM Finland, said: “We are pleased to continue our successful cooperation with IceCapital. This project in Espoo will deliver high-quality residential units in a very good location, within walking distance of both the sea and the metro.”