K-Fastigheter acquires development property in Helsingborg
K-Fastigheter has entered into an agreement with Belebro AB to acquire the property Helsingborg Viktoria 22 in Helsingborg Municipality. The zoning plan for the property has gained legal force and K-Fastigheter intends to build approximately 75 apartments in the Group’s proprietary Lateral Low-Rise concept building.
K-Fast Holding AB (“K-Fastigheter”) has entered into an agreement to acquire the property Helsingborg Viktoria 22 in the Tågaborg district in northern Helsingborg. The property currently has an ICA store with leases until 30 June 2023. Underlying total property value amounts to SEK 28 million. Expected gross floor area (GFA) building right above ground amounts to approximately 4,800 square meters.
“We have bought a property in one of Helsingborg’s most attractive locations and in a city where K-Fastigheter has a strong position,” says Jacob Karlsson, CEO of K-Fast Holding AB. “We believe that there is great interest in our apartments and we will build a house that fully utilizes the property’s potential.”
The acquisition takes place through a company transaction and the transaction is financed through existing cash balances. K-Fastigheter will take possession of all shares in Grundbulten 50459 AB (name to be changed to Helsingborg Viktoria 22 Fastighets AB), owner of Helsingborg Viktoria 22, as of 1 July 2021.
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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 2,280 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 SEK 7.4 billion, with an annual rental value of about SEK 278 million. Since November 2019, the company’s Class B shares have been traded on Nasdaq Stockholm under the (ticker: KFAST B). Read more at www.k-fastigheter.com