John Mattson Fastighetsföretagen AB (publ) has today signed an agreement to acquire 541 apartments in the Rotebro and Rotsunda districts of Sollentuna municipality. The purchase price amounts to SEK 765 million after deduction of deferred tax of SEK 40 million. The seller is Sollentuna Stadshus AB.
The acquisition comprises 29 properties, with a total lettable area of 37,200 square metres, in attractive locations by Rotebro city centre and Rotsunda Torg, close to the commuter train station and the E4. Rotebro and Rotsunda are growing parts of Sollentuna municipality with positive population growth and a high demand for housing. The buildings were constructed in the 1950s and 70s and have a broad range of apartment sizes, with an emphasis on one- and two-bedroom apartments.
John Mattson already has over 2,250 rental apartments in Lidingö. Through the acquisition, the company is expanding the lettable area of its property portfolio approximately 22%. One element of the company’s growth strategy is to establish itself in more neighbourhoods in the Stockholm region, in municipalities with good development potential and easy access to transportation.
“The property portfolio fits well with the company´s management model. We have identified long-term potential in the portfolio and look forward to offering residents a great neighbourhood. We also look forward to a close relationship with Sollentuna municipality,” says Siv Malmgren, CEO of John Mattson.
“We are pleased to have gained an actor with extensive property management experience and a clear business idea focused on long-term ownership and management of rental properties. Moreover, they have a strong focus on societal sustainability,” says Henrik Thunes (Moderates party), Chairman of Sollentuna Stadshus AB.
The acquisition was conducted using a corporate wrapper and for a purchase price of SEK 765 million after deduction of deferred tax of SEK 40 million. The seller is Sollentuna Stadshus AB and the properties will be transferred in May 2020.
Linklaters Advokatbyrå acted as legal advisor for John Mattson in the transaction.
Facts about the acquisition:
Number of properties: 29, of which seven are leasehold
Number of apartments: 541
Lettable area, apartments: 37,200 sq m, of which 34,200 sq m is housing and approximately 3,000 sq m other premises
Economic occupancy rate: 99%
Rental revenues, fully let (2019): approx. SEK 42 million
Acquisition price: SEK 765 million after deduction of deferred tax of SEK 40 million
Date of transfer: 4 May 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 is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2:15 p.m. CET on 19 December 2019.
About John Mattson Fastighetsföretagen AB (publ)
John Mattson is Lidingö’s largest residential property owner with more than 2,250 rental apartments. As of 30 September 2019, the market value of John Mattson’s property portfolio was SEK 6.2 billion. The property portfolio is located in southern Lidingö in the areas of Larsberg, Käppala, Baggeby and Dalénum.
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.