Today, John Mattson signed an agreement to acquire three properties at Gullmarsplan in central Stockholm. This acquisition, and the properties the company already owns in Slakthusområdet and Johanneshov, will make John Mattson an important part of the Söderstaden development area.
The acquired properties have an underlying property value of SEK 670 million before deduction of 25% for latent tax. The sellers were several private individuals via a corporate wrapper. Possession is scheduled for February 2022.
The acquired properties have prime locations near the Metro station entrance at Gullmarsplan in central Stockholm. They comprise a total of approximately 12,000 square metres of lettable area across three properties, of which approximately half are rental properties and the other half are commercial premises with tenants such as Hemköp, Systembolaget, a pharmacy and a health centre.
One element of John Mattson’s growth strategy is to acquire existing property portfolios in municipalities in the Stockholm region, in locations with good development potential and easy access to transportation. John Mattson is already present in the new development area of Söderstaden, which includes Gullmarsplan, through properties in Slakthusområdet and Johanneshov.
“The properties have a unique location. Gullmarsplan is a hub for Stockholm’s public transportation and an important part of the Söderstaden development area tying Globenområdet, Slakthusområdet and Gullmarsplan together. We look forward to developing Söderstaden together with the City of Stockholm and other property owners,” says Siv Malmgren, CEO of John Mattson.
The acquisition was financed through a combination of cash and shares, with approximately 50% of the price for the shares financed through a new issue of shares in John Mattson Fastighetsföretagen AB (publ). A non-cash issue of 672,208 shares, at an issue price of SEK 175.17 per share amounting to SEK 117,750,675, will be completed on the date of transfer, with the support of the authorisation from John Mattson’s Annual General Meeting on 22 April 2021. The share portion of the consideration will be covered through an additional non-cash issue of 859,930 shares, at an issue price of SEK 175.17 per share amounting to SEK 150,633,938, and is planned for April 2022. This additional non-cash issue requires a decision from John Mattson Fastighetsföretagen AB (publ) Annual General Meeting.
John Mattson’s legal advisor has been Wigge & Partners. The sellers advisor has been Tango.
Lidingö, 12 November 2021
John Mattson Fastighetsföretagen AB (publ)
Facts about the acquisition:
Number of properties: Three freehold properties (Gravyren 1, Kopparsticket 8 and Vinjetten 6)
Lettable area: 11,900 m², of which approximately 6,200 m² is housing and approximately 5,700 m² other premises
Number of apartments: 79
Economic occupancy rate: 100%
Rental revenues, fully let (2021): approximately SEK 22.5 million
Acquisition price: SEK 670 million, less 25% latent tax
Date of transfer: 1 February 2022
For further information, please contact:
Siv Malmgren, CEO of John Mattson.
+46 (0)70-539 35 07, [email protected]
Daniel Fornbrandt, Head of Business Development, John Mattson
+46 (0)73 326 53 23, [email protected]
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 11:00 a.m. CET on 12 November 2021.
About John Mattson Fastighetsföretagen AB (publ)
John Mattson is a residential property owner with 4,300 rental apartments as well as commercial premises and leasehold properties in five municipalities of Stockholm: Lidingö, Sollentuna, Stockholm, Nacka and Upplands Väsby. As of 30 September 2021, the property value was SEK 14.2 billion. The focus of the company’s strategy is on property management, refinement, densification and acquisitions. The management of John Mattson’s properties is characterised by an overall perspective and close customer relationships. The company’s goal is to create great neighbourhoods across generations. John Mattson’s shares are listed under the symbol JOMA on Nasdaq Stockholm, Mid Cap. Read more at: johnmattson.se and corporate.johnmattson.se.