K-Fastigheter acquires development property in Falkenberg

K-Fast Holding AB has entered into an agreement with Handelshuset de Roxen AB on the acquisition of land in Falkenberg Municipality. K-Fastigheter intends to develop a zoning plan for the Group’s concept buildings on the property, with rental apartments in an area with short distances to the city center, recreational area and water.

K-Fast Holding AB (“K-Fastigheter”) has entered into an agreement to acquire the property Falkenberg Motorn 16, with address Sanddynevägen 42, in western Falkenberg. Underlying property value amounts to SEK 16.1 million with an expected gross area of 12,000 square meters.

With today’s deal, K-Fastigheter is taking the first step into Falkenberg. We will immediately begin work on producing a zoning plan that utilizes the qualities that exist with the location close to the sea, with short distances to both the city center and a variety of outdoor activities”, says Jacob Karlsson, CEO of K-Fast Holding AB. “Until the property receives a zoning plan for housing, our goal is to operate a padel hall in the existing building on the property, either in-house or through a tenant, in order to receive income during the period we are developing the property. We have an ongoing dialogue with a couple of operators.”

The acquisition takes place through a company transaction and the transaction is financed through existing cash balances. K-Fastigheter will take ownership of all shares at the beginning of February 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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