SPP Fastigheter to acquire two rental properties in Stockholm from JM for $155m.

SPP Fastigheter, a real estate developer, agreed to acquire two rental properties in Stockholm from JM Property, a REIT, for $155m. "We are pleased that the market is continuing to improve and there is strong demand for our newly produced rental properties. This gives us with the possibility of selling completed properties on our own land, which supplements our long-term ownership of site leasehold rights in the joint venture company that was formed at the end of last year. It is still JM’s objective to increase the volumes in the rental segment, and these sales create conditions for investment in new projects," Mikael Åslund, JM Manager.