John Mattson has signed an agreement today for the sale of the Klassrummet 1 property in central Stockholm. The price is based on an underlying property value of SEK 127,5 million before deduction for latent tax. The buyer is Bonnier Fastigheter AB.
The Klassrummet 1 property is located at Lilla Bantorget in central Stockholm and comprises one older office building dating back to the late 1800s. The total lettable area amounts to 1,131 square metres. The price is based on an underlying property value of SEK 127,5 million before deduction for latent tax, which is SEK 12 million lower than its carrying amount as of the second quarter 2023. The estimated negative earnings impact from the transaction for John Mattson amounts to about SEK 20 million after deduction for latent tax, transaction costs and the reversal of recognised deferred tax. A realised change in value will be recognised for the fourth quarter.
The sale will take place via a corporate wrapper.
“We are making our second property sale in a short time, thereby contributing to strengthening John Mattson’s financial position by reducing the loan-to-value ratio. Klassrummet 1 is our last property in central Stockholm. The sale means that we have now streamlined our portfolio into four geographical property management areas, thus creating the preconditions for more efficient and value-creating property management,” comments Per Nilsson, CEO of John Mattson.
The agreement is unconditional and John Mattson will transfer ownership of the property on 10 November 2023.
Nordanö and Wigge & Partners have acted as transaction advisors for the vendor.
Lidingö 27 October 2023
John Mattson Fastighetsföretagen AB (publ)
For further information, please contact:
Per Nilsson, CEO of John Mattson
+46 (0)8-613 35 02, [email protected]
About John Mattson Fastighetsföretagen AB (publ)
John Mattson is a residential property company with 4,300 rental apartments as well as commercial premises in five municipalities in the Stockholm region: Lidingö, Sollentuna, Stockholm, Nacka and Upplands Väsby. As of 30 June 2023, the property value was SEK 14.5 billion. The focus of the company’s strategy is on property management, adding value, densification and acquisitions. Our vision is to create great neighbourhoods across generations. This means we make daily life easier for everyone through a holistic management perspective and close tenant contact, as well as by developing safe and attractive neighbourhoods and local communities. John Mattson’s share is listed under the symbol JOMA on Nasdaq Stockholm, Mid Cap. Read more at: johnmattson.se/in-english.