K-Fastigheter expands in Växjö
K-Fastigheter is expanding its property portfolio in the town of Växjö in southern Sweden by acquiring a construction project with 36 rental apartments in sustainable housing area Vikaholm.
K-Fast Holding AB (“K-Fastigheter”), an active and committed landlord offering attractive homes in southwestern Sweden, has acquired 100 percent of the shares in C4 Hus Förvaltning 11 AB, a company that has signed an agreement to acquire the Taket 2 property. Under a turnkey contract, C4 Hus is to construct nine buildings with a total of 36 apartments.
The buildings will have a total lettable area of about 2,900 square metres and the quality and selection of materials will be in accordance with K-Fastigheter’s standards. Tenants are scheduled to move in during 2021.
The acquisition is being conducted as a corporate transaction, with the underlying property value amounting to approximately SEK 80 million. The transaction is being financed through existing cash balances, with K-Fastigheter now having assumed ownership of the shares. The combined rental value on completion of the project will be approximately SEK 4.7 million.
In addition to today’s acquisition, in accordance with a previously announced schedule, K-Fastigheter has gained access to Nocken 2, a property with a lettable housing area of 3,795 square metres, distributed between 67 rental apartments in the Vikaholm area. Additional information regarding that acquisition can be found in a press release dated 19 June 2019.
“Växjö is a city with strong population growth and the acquisition of the Taket 2 property represents part of our strategy to be present in growth regions and to work focusing on sustainability. With the recently announced acquisitions and gaining access to the 67 neighbouring apartments, we will achieve cost-efficient property management in Växjö. All in all, within a few years, we will be able to offer about 420 rental properties in Växjö,” says Jacob Karlsson, CEO of K-Fast Holding AB. “C4 Hus demands a high level of quality in all that it undertakes, just as we do. I am therefore convinced that they will deliver a project providing our tenants with safe and pleasant homes.”
For further information, please contact:
Jacob Karlsson, CEO and Founder, K-Fast Holding AB, e-mail: jacob.karlsson@k-fastigheter.se, telephone: +46 10 167 60 71
Anders Antonsson, IR Manager, e-mail: anders.antonsson@k-fastigheter.se, telephone: +46 709 994 970
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 1,600 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 SEK 3.9 billion, with an annual rental value of about SEK 177 million. Since November 2019, the company’s class B shares have been traded on Nasdaq Stockholm (ticker: KFAST B). Read more at k-fastigheter.se
