K-Fastigheter buys building right in Älvängen in Ale municipality

K-Fast Holding AB (“K-Fastigheter”) has acquired a building right for approximately 110 rental apartments in Ale municipality. The acquisition is made from a company within the Serneke Group and regards all the shares in the company that owns the property Ale Utby 3:113. A legally binding zoning plan is in place.

On the acquired property K-Fastigheter plans to construct approximately 110 rental apartments in K-Fastigheter’s own developed concept houses Lateral Low-Rise and Apartment Block. Expected yearly rental value amounts to about SEK 16 million. Closing has occurred and construction start is depending on when a building permit is received which preliminarily is expected during 2023. The transaction is a share deal and is based on an underlying property value of SEK 12 million.

“The property we acquire has an excellent location in Älvängen close to public transportation and public services such as childcare, schools and health care as well as grocery stores. We see a great potential in the municipality with its good geographical location and look forward to adding new attractive rental apartments and contribute to the development of the municipality”, says Magnus Persson, Business Development Manager at K-Fastigheter.

For more information, please contact:
Magnus Persson, Business Development Manager,
e-mail: magnus.persson@k-fastigheter.se, telephone:  +46 (0)10 209 61 39

Johan Hammarqvist, Head of Investor Relations and Communications
e-mail: johan.hammarqvist@k-fastigheter.se, telephone: +46 (0)10-167 60 99
 

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 3,700 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 13.1 billion, with an annual rental value of about SEK 490 million. Since November 2019, the company’s Class B shares have been traded on Nasdaq Stockholm under the (ticker: KFAST B). Read more at k-fastigheter.com