K-Fastigheter acquires building rights in central Kävlinge
K-Fast Holding AB has acquired a property on which it has the opportunity to construct about 70 rental apartments adjacent to the railway station in the town of Kävlinge, in southern Sweden. It is expected that building permits will be applied for in the first half of 2020.
K-Fast Holding AB (“K-Fastigheter”), an active and committed landlord offering attractive homes in southwestern Sweden, has acquired the Kävlinge Saltmästaren 2 property, directly adjacent to the railway station in Kävlinge.
The acquisition is being conducted as a corporate transaction, with the underlying property value amounting to SEK 14 million. The transaction is being financed through existing cash balances. The transfer of shares and the disbursement of the purchase consideration will take place on 4 December 2019. The seller is Er-Ho Fastigheter.
“This will be our first project in Kävlinge, a municipality that attracts those seeking a pleasant residential environment and a favourable labour market within easy commuting distance from several of the larger towns and cities in western Skåne,” says Jacob Karlsson, CEO of K-Fast Holding AB. “K-Fastigheter has the opportunity to construct some 70 rental apartments with a total BTA of 4,700 square metres and it is our assessment that construction can commence during the upcoming financial year.”
For further information, please contact:
Jacob Karlsson, CEO and founder, K-Fast Holding AB, e-mail: firstname.lastname@example.org, phone: +46 10 167 60 71
Anders Antonsson, Head of Investor Relations, e-post: email@example.com, phone: +46 709 994 970
As a property company, K-Fastigheter’s objective is to add value for tenants by creating attractive homes with superior comfort. The Group’s operations encompass active property management, project development and proprietary construction operations. To enhance cost efficiency and cut construction times, K-Fastigheter has chosen to work with three concept buildings, developed in-house and constructed for proprietary management. K-Fastigheter provides some 1,600 homes in several locations in the Öresund region, in the province of Småland and in western Sweden, and is assessing new markets as production capacity increases. The Group’s property portfolio has a book value of SEK 3.9 billion, with an annual rental value of about SEK 160 million. Since November 2019, the company’s class B shares have been traded on Nasdaq Stockholm (ticker: KFAST B). Read more at k-fastigheter.se