K-Fastigheter buys building right to build additional rental apartments in Växjö
K-Fast Holding AB has entered into an agreement to acquire all shares in Trollhöjden Fastighets AB (“Trollhöjden”). Upon access, Trollhöjden will own 12,000 square meters of detailed planned land on Telestadshöjden in Växjö. K-Fast Holding intends to build up to 150 rental apartments in the Group’s proprietary concept buildings.
K-Fast Holding AB (“K-Fastigheter”) acquires the shares in Trollhöjden from Skanska Projektutveckling Hyresbostäder Holding 7 AB. K-Fastigheter will accede the shares after the partitioning of the property Växjö at 13:32, which is expected to take place during the first half of 2021.
“The building right in Telestadshöjden allows development from 2 to 6 storeys and K-Fastigheter plans to build 140–150 homes in our Low-rise and Apartment Block buildings. Total gross total area (GTA) is estimated to amount to 10-12,000 square meters and we will adapt the buildings to the varying topography of the land, which provides viewpoints and significant natural land in the residential area”, says Åsa Fredin, Business Area Manager for K-Fastigheter Project Development.
The acquisition takes place through a company transaction and the underlying property value amounts to SEK 15 million, which corresponds to approximately SEK 1,250/square meter GTA. The transaction is financed through existing cash balances.
In Växjö, K-Fastigheter currently has 260 apartments under management, 128 under production and about 90 under project development. Växjö and nearby Älmhult form a joint management unit with a total of 317 apartments under management and 491 apartments under production and project development.
“The acquired property is adjacent to the Trollet 1 block, which we have previously purchased from Skanska/BoKlok a transaction within our strategic partnership. On Trollet 1, BoKlok will build 48 apartments that we will own and manage. Planned occupancy is set for December 2021”, says Åsa Fredin.
For further information, please contact:
Åsa Fredin, Business Area Manager, Project Development, e-mail: asa.fredin@k-fastigheter.se, telephone: +46 10 167 60 84
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 1,900 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 5.8 billion, with an annual rental value of about SEK 220 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
