Increase in income from property management and acquisitions agreed in Sollentuna
In December 2019, John Mattson entered into an agreement to acquire 541 rental apartments from Sollentuna Stadshus AB. The units are located in the areas of Rotsunda and Rotebro. We take possession in May 2020.
In the fourth quarter of 2019, tenants took up residence in our apartments for young adults in U25 in Larsberg. The upgrade of apartments in Käppala is progressing and all together, some 400 apartments will have received base upgrades by mid-2021. In 2019, the company totally upgraded fewer than 100 apartments, but including planned upgrades over the coming two-year period, we will reach our goal of 100 totally upgraded apartments per year over time.
“Rental revenues rose 16% in 2019, which was due to the Käppala acquisition and the newly constructed Parkhusen, which impacted net operating income in the second half of 2018. This helped lift average growth in income from property management per share by 159%,” says Siv Malmgren, CEO of John Mattson.
Lidingö, 19 February 2020
John Mattson Fastighetsföretagen AB (publ)
For further information, please contact:
Siv Malmgren, Chief Executive Officer
Tel: +46 705 39 35 07
Maria Sidén, Chief Financial Officer
Tel: +46 703 37 66 36
Erik Kronqvist, Head of Investor Relations
Tel: +46 706 97 22 22
This information is information that John Mattson Fastighetsföretagen AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 a.m. CET on 19 February 2020.
About John Mattson Fastighetsföretagen AB (publ)
John Mattson is Lidingö’s largest residential property owner with more than 2,250 rental apartments. As of 31 December 2019, the market value of John Mattson’s property portfolio was SEK 6.4 billion. The property portfolio is located in southern Lidingö in the areas of Larsberg, Käppala, Baggeby and Dalénum. From May 2020, the company will be managing 541 rental apartments in Sollentuna.
The focus of the company’s strategy is on property management, refinement, densification and acquisitions. The management of the company’s properties is characterised by an overall perspective and close customer relationships.