Residential real estate company John Mattson has signed an agreement to acquire 318 apartments in central Uppsala from Niam for a purchase price of approximately SEK 221 million. The underlying property value amounts to approximately SEK 803 million, with a deduction for deferred tax of SEK 19 million. Closing is scheduled for June 1, and the transaction will be financed through bank loans, according to a press release.

The acquisition comprises four properties with a lettable area of approximately 13,800 square meters in the Senapsfabriken district, marking the company's first establishment outside the Stockholm suburbs.

'Through this acquisition, we are establishing a presence in Uppsala, a market characterized by strong population growth and attractive risk-adjusted returns. This deal represents a unique opportunity to acquire assets in one of Uppsala's absolute prime locations,' says CEO Per Nilsson in a statement.

Concurrently, the Board of Directors has resolved to initiate a share buyback program of up to SEK 100 million, running until the 2027 Annual General Meeting. According to CEO Per Nilsson, the buybacks aim to create shareholder value at a time when real estate stocks are trading at a discount.

'Many real estate shares are currently trading at a discount, and John Mattson is no exception. Against this backdrop, repurchasing John Mattson's shares represents an attractive capital allocation. The Board has therefore decided that our growth plan, which includes investments in the existing portfolio, new construction, and acquisitions of investment properties, will be supplemented by share buybacks to further create value for our shareholders. The fact that we can complete the Uppsala acquisition while simultaneously initiating buybacks demonstrates the company's financial strength,' says Per Nilsson.