SSM Holding AB, Sweden’s leading residential developer within smart, affordable homes, has acquired all of the shares in the half-owned joint venture company Studentbacken that SSM has run together with Student Hill since 2013. The acquisition also includes about 280 building rights in three projects currently being developed within the joint venture: Kandidaten, The Loft and Tentafabriken. The purchase price amounts to ca 2.0 MSEK and the transaction will be carried out in July 2020.
Today, SSM has acquired all of the shares in the half-owned joint venture company Studentbacken.
Since 2013, together with Student Hill, SSM has been running the joint venture to develop student housing in the Greater Stockholm area. In 2017, the company completed the Twin House project in Danderyd, Stockholm’s first cooperative apartment project for students.
The acquisition also includes approximately 280 building rights in three ongoing projects: 77 in Kandidaten near Brommaplan, 124 in The Loft in Täby and 72 in Tentafabriken, which is near Sollentuna town center.
– SSM targets people between 20 and 44 years. SSM plans to continue developing these projects into affordable homes for the younger segment within our target group, says Mattias Lundgren, President & CEO of SSM.
The purchase price is ca 2.0 MSEK and the transaction will take place in July 2020.
The information in this press release is such, which SSM Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07:30 CEST on June 30, 2020.
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About SSM Holding AB (publ)
SSM produces smart, affordable homes with attractive shared spaces close to public transport and the city center for its target group – tomorrow’s urbanites. SSM envisions a housing market for as many people as possible and today, the company is the leading property developer in its niche within the Greater Stockholm area. On March 31, 2020, SSM had approximately 4,500 building rights in its portfolio. SSM has been listed on Nasdaq Stockholm’s Main List since April 6, 2017. ssmlivinggroup.com