K-Fastigheter and Innovation Properties to develop properties in Hemmesta Centrum
K-Fastigheter and Innovation Properties have acquired properties in Hemmesta Centrum, just outside Stockholm. A zoning plan for the area is being prepared and the transaction is conditional on the plan gaining legal force.
K-Fast Holding AB (“K-Fastigheter”) and Innovation Properties have entered into agreement with K.A. Lindgren Förvaltnings Aktiebolag on the acquisition of the properties Hemmesta 11:67, 11: 328 and 11: 369 in Värmdö municipality. In an early volume study, K-Fastigheter estimates that it will be possible to build up to 150 apartments in the Group’s proprietary concept buildings.
“We are pleased to be able to make another acquisition together with our partner Innovation Properties. With this acquisition, K-Fastigheter is establishing itself in the eastern parts of the Stockholm region, where we see a strong demand for well-planned, high-quality rental housing,” says Magnus Persson, business development manager, K-Fastigheter.
“The acquisition is in line with our strategy to acquire building rights for the construction of attractive rental apartments for management. We are now taking the step further in our outstanding collaboration with K-Fastigheter in another exciting deal,” says Kristian Wahlberg, Innovation Properties.
The parties own half of the project, with an underlying total property value amounting to approximately SEK 53 million. Expected gross floor area (GFA) building right above ground amounts to a minimum of 10,000 square meters.
The acquisition takes place through a company transaction and possession of the properties will take place on a legally binding zoning plan.
For more information, please contact:
Magnus Persson, Business Development manager, e-mail: magnus.persson@k-fastigheter.se, telephone: +46 10 209 61 39
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 2,305 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 8.0 billion, with an annual rental value of about SEK 280 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
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