In a transaction with JM, Wallenstam has agreed on the acquisition of residential building rights in Lövholmen in Stockholm and on the sale of residential building rights in Älta, Nacka.
Wallenstam is acquiring future building rights in the property Stockholm Färgeriet 4, which is part of the larger development area Lövholmen, adjoining Liljeholmen in Stockholm. The transaction will take the form of a 50-percent company acquisition with an underlying agreed property value of approximately SEK 280 million in total. The purchase price for Wallenstam's 50-percent company acquisition thus amounts to approximately SEK 140 million. The property will be taken into possession in March 2026. The purpose of the jointly owned company is to develop the zoning plan.
"We are very much looking forward to collaborating with JM in the development of Lövholmen and together take the next step in designing a vibrant and long-term sustainable district. The building rights create fantastic opportunities for us to develop more apartments in a central and very attractive location in Stockholm. It is a place with strong demand and great potential, where we can contribute with quality homes and well thought-out urban development," says Erik Klang, Head of Investments at Wallenstam.
In the same transaction, Wallenstam is selling building rights in block 3 of the Älta urban development project in Nacka. The property is being sold through a company transaction for an agreed property value of SEK 45 million. Vacation will take place when property formation has gained legal force, which is expected to occur during the first quarter of 2027.
"We are carrying out a long-term urban development project in Älta where we have so far mainly constructed rental apartments. To create a sustainable and vibrant district over time the area requires a mix of forms of tenure that meet different types of needs and demand. Therefore we are really happy that JM is now coming in as a co-op apartment developer and together with us will continue to develop Älta and further strengthen the attractiveness of the area," says Mathias Aronsson, Vice CEO and Regional Director of Wallenstam in Stockholm.
For further information, please contact:
Susann Linde, Vice CEO and CFO Wallenstam AB, tel. +46 705 17 11 34
www.wallenstam.se
Wallenstam is a property company that manages, builds and develops properties for sustainable living and enterprise in Stockholm, Gothenburg and Uppsala. The property holding is valued at around SEK 70 billion and the customer base consists of around 12,700 households and 1,000 enterprises. The total lettable area is around 1.4 million sq m. Wallenstam is self-sufficient in renewable electrical energy through its own wind turbines in operation. The company's B shares have been listed on Nasdaq Stockholm since 1984.
