trending Market Intelligence /marketintelligence/en/news-insights/trending/gyb2fuc73uomehqobbotmw2 content esgSubNav
In This List

JM buying Norwegian asset for 340M kronor

Blog

Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


JM buying Norwegian asset for 340M kronor

Sweden-based residential developer JM AB has agreed to pay 340 million Swedish kronor to purchase the Bergerveien 12 property in Asker, Norway, from local pension company KLP.

The asset forms part of the larger Vestre Billingstad development site, where about 1,600 new residential units are set to be developed, and has approval in place for the construction of 570 apartment units.

The sale of the project's Bergerløkka first phase, comprising 47 units, has already started, with occupancy of the property expected to take place in the first quarter.

Settlement of the acquisition will occur in the second quarter, according to a release.

As of March March 27, US$1 was equivalent to 8.22 Swedish kronor.