K-Fastigheter buys building rights in Örebro

K-Fast Kilen AB has acquired building rights for up to 300 rental apartments in Örebro. The building rights covers part of the property Örebro Almeby 12:43 and is acquired from a subsidiary to Lantmännen Fastigheter AB. A legally binding zoning plan is in place for the area and construction start is expected gradually from 2023.

On the acquired property K-Fast Kilen plans to construct up to 300 rental apartments in K-Fastigheter’s own developed concept houses Lateral Low-Rise and Apartment Block. Expected yearly rental value when fully completed amounts to SEK 41 million. Closing and construction start will take place gradually starting during 2023. The transaction is a share deal and is based on an underlying property value of SEK 111 million.

“Through the acquisition, we are for the first time establishing ourselves in Örebro, which is a market where we see great potential. We look forward to being part of developing Örebro as a city through the addition of new attractive rental apartments. I am very happy that we can continue our good collaboration with Kilenkrysset” says Magnus Persson, Business Development Manager at K-Fastigheter.

K-Fast Kilen AB, is 51 percent owned by K-Fast Holding AB (“K-Fastigheter”) and 49 percent owned by Kilenkrysset.

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 3,450 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 12.1 billion, with an annual rental value of about SEK 430 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