K-Fastigheter has signed a letter of intent regarding divestment of a property portfolio in Denmark
K-Fast Holding AB (”K-Fastigheter”) has signed a letter of intent with an institutional investor regarding the divestment of a property portfolio in Denmark.
On September 11th, 2023, it was announced in a press release that K-Fastigheter is exploring the possibility to divest a property portfolio in Denmark. A letter of intent has been signed with an institutional investor regarding the divestment of the portfolio. The sales process with technical and economical due diligence is progressing and, subject to the parties entering a binding agreement, the transfer of the properties is expected during the second quarter of 2024.
The transaction is based on an underlying property value of about SEK 1,070 million. The book value of the properties was SEK 1,145 million at the end of the fourth quarter 2023.
The divestment is made to strengthen the balance sheet and to be able to continue to acquire building rights and start construction of new projects.
For more information, please contact:
Jacob Karlsson, CEO,
e-mail: jacob.karlsson@k-fastigheter.se, telephone: +46 (0)10-167 60 71
Johan Hammarqvist, Head of Investor Relations and Communications
e-mail: johan.hammarqvist@k-fastigheter.se, telephone: +46 (0)10-167 60 99
This disclosure contains information that K-Fast Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on March 7th, 2024, 11.45 AM CET.
K-Fastigheter is much more than a property company. Through an integrated process, we build our business in the four business areas project development, prefab, construction and property management. To enhance cost efficiency and cut construction times, K-Fastigheter has chosen to work with three concept houses, developed in-house and constructed for own management. K-Fastigheter offers close to 4,900 homes from Copenhagen in the south to Gävle in the north and is continuously assessing new markets. K-Fastigheter strive to create attractive homes with a high comfort factor. The Group’s property portfolio has a book value SEK 14,9 billion. Annual rental value in invest properties under management amounts to SEK 661 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
