K-Fastigheter acquires development property in Helsingborg

K-Fast Holding AB has entered into an agreement with YTTA Holding AB on the acquisition of land for future building rights of approximately 8,500 square meters in Ödåkra, Helsingborg Municipality. K-Fastigheter intends to develop a zoning plan with the goal of building up to 100 rental apartments at the site.

K-Fast Holding AB (“K-Fastigheter”) has entered into an agreement to acquire all shares in Spritan Fastighetsutveckling AB, owner of part of the property Ödåkra 1:186, just south of Ödåkra train station. The underlying property value amounts to SEK 11.7 million, corresponding to approximately SEK 1,375 per square meter of expected gross area, and the transaction is conditional on zoning plan gaining legal force.

“We look forward to being able to develop this centrally located site, where we primarily plan to build our own developed concept buildings, Apartment Block”, says Jacob Karlsson, CEO of K-Fast Holding AB. “The site is close to the train station in Ödåkra, and right next to Ödåkra Spritfabrik 1897, called ‘Spritan’. This historic building has been developed into a real destination, with an indoor paddle, cafe/bakery, restaurants, art gallery and business premises.”

The transaction is financed through existing cash balances and K-Fastigheter will take ownership of the shares following demarcation of the land and approval of the zoning plan.

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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