K-Fastigheter buys building rights in Västerås and sells investment property with mainly commercial premises in Helsingborg

K-Fast Holding AB (“K-Fastigheter”) has acquired building rights for up to 180 rental apartments in Västerås. The building rights cover part of the property Vapenrocken 1 and are acquired from Fastighets AB Balder. A legally binding zoning plan is in place for the area. Closing and construction start is expected during 2023.

On the acquired property located in the Viksäng area of Västerås K-Fastigheter plans to construct up to 180 rental apartments in K-Fastigheter’s own developed concept house Lateral Low-Rise. Expected yearly rental value amounts to SEK 26 million. Closing and construction start is expected during 2023. The transaction is a share deal and is based on an underlying property value of SEK 49 million.

“We are happy to be able to expand our presence in Västerås, which is an expansive municipality in the Mälardalen region. The construction at Viksäng supplements our already ongoing projects in Västerås in a good way” says Magnus Persson, Business Development Manager at K-Fastigheter.

In conjunction with the acquisition of part of the property Vapenrocken 1 in Västerås, K-Fastigheter is doing a barter deal, which means that the company will divest the investment property Rådhuset 6 in Helsingborg to Balder. The transaction is a share deal and Rådhuset 6 has an underlying property value of SEK 136 million and consist mostly of commercial premises. The underlying property value is without deduction for deferred tax and in line with book value as of Q3 2022.

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