K-Fastigheter acquires development property in Kristianstad
K-Fastigheter has entered into an agreement with Säljfast Holding AB to acquire the property Kristianstad Revisorn 8 and 10 in Kristianstad Municipality. K-Fastigheter intends to build approximately 150 apartments in the Group’s proprietary Low-Rise concept buildings. The transaction is conditional on zoning plan coming into force.
K-Fast Holding AB (“K-Fastigheter”) has entered into an agreement to acquire the property Kristianstad Revisorn 8 and 10 in the Härlöv district in western Kristianstad. Underlying total property value amounts to SEK 23 million. Expected gross floor area (GFA) building right above ground amounts to approximately 14,000 square meters.
“In a municipality where K-Fastigheter has a strong position, this acquisition will enable even more attractive rental apartments in an area with a large range of commercial services, major transit routes and proximity to school as well as nature,” says Magnus Persson, business development manager, K-Fastigheter. “Together with the sellers, we will continue the planning work with the goal of being able to start construction in 2023.”
The acquisition takes place through a company transaction and the transaction is financed through existing cash balances. K-Fastigheter will take possession of the property at the time of the approved zoning plan.
For more information, please contact:
Magnus Persson, Business Development manager, e-mail: email@example.com, telephone: +46 10 209 61 39
Anders Antonsson, IR Manager, e-mail: firstname.lastname@example.org, 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 2,280 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