K-Fastigheter acquires development properties in Malmö
K-Fast Holding AB has entered into an agreement with Swedish Logistic Property on the acquisition of two properties in Malmö Municipality. K-Fastigheter intends to develop a zoning plan that enables the construction of a total of approximately 150 apartments.
K-Fast Holding AB (“K-Fastigheter”) has entered into an agreement to acquire the properties Malmö Kvarnhög 19 and Malmö Skjutsstallslyckan 21. Underlying total property value amounts to SEK 38.5 million and expected gross floor area of 4,300 and 8,500 square meters, respectively.
“The properties are located in two attractive areas in Malmö, where we see good opportunities to contribute with good housing that suits each location,” says Jacob Karlsson, CEO of K-Fast Holding AB. “Work on the zoning plan will start immediately. Kvarnhög 19 is located in the Husie district, which is characterized by proximity to outdoor areas and various sports activities. Our Low-Rise concept buildings fits well, and we estimate to be able to build 50 apartments on the plot. The other property is located in the Kirseberg district, where there is proximity to all the city’s activities. We expect to build about 100 apartments in our Lateral Low-Rise concept buildings on this plot.”
Today, certain commercial activities are conducted on both plots, which contribute revenue during the period the detailed planning process is ongoing. The acquisition takes place through a company transaction and the transaction is financed through existing cash. K-Fastigheter will take over all shares on 1st of March 2021.
For further information, please contact:
Jacob Karlsson, CEO, e-mail: jacob.karlsson@k-fastigheter.se, telephone: +46 738 219 626
Anders Antonsson, IR Manager, e-mail: anders.antonsson@k-fastigheter.se, telephone: +46 708 730 900
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 2,040 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 approximately SEK 6.1 billion, with an annual rental value of about SEK 240 million. Since November 2019, the company’s class B shares have been traded on Nasdaq Stockholm (ticker: KFAST B). Read more at www.k-fastigheter.se
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