K-Fastigheter in strategic partnership with BoKlok
K-Fast Holding AB and BoKlok will cooperate with the goal of jointly building up to a thousand apartments over the next three years. Both companies share the view that conceptual building methods provide the conditions for as cost-efficient housing as possible. The collaboration begins immediately and includes project development, building rights transactions as well as construction.
K-Fast Holding AB (“K-Fastigheter”), an active and committed landlord offering attractive homes in southwestern Sweden, has initiated a collaboration with BoKlok, a company jointly owned by Skanska and IKEA, with the business concept of making it possible for people with average incomes to own a sustainable, quality, low cost home.
The first transactions include K-Fastigheter to sell building rights in Hässleholm and Viken to BoKlok, totalling 43 apartments for a total purchase price of approximately SEK 18 million. In addition, K-Fastigheter purchases 48 rental apartments, including building rights, from BoKlok at Telestadshöjden in Växjö, to be completed in 2021. K-Fastigheter has also signed a letter of intent with Skanska Hyresbostäder to acquire the adjacent building right with a total of 12,000 square metres gross floor area (GFA). On this site, K-Fastigheter plans to build homes according to its three concept houses. The purchase price of this part amounts to approximately SEK 15 million.
In addition to the above-mentioned transactions, K-Fastigheter and BoKlok have signed a letter of intent regarding two projects in Skåne, in which both parties will jointly develop building rights and residential buildings.
As K-Fastigheter always builds rental apartments and BoKlok mainly tenant-owned apartments, the companies will work jointly to create residential areas with different forms of tenures, making an area more popular and sustainable. The focus of the collaboration is on projects in Skåne and Småland, however there are no geographical restrictions in the partnership.
“The collaboration is a meeting of minds between BoKlok and K-Fastigheter. In my opinion, BoKlok is one of the few players that fully understands what it means to build conceptually. By focusing on developing different forms of tenure, we can benefit from our respective experiences and jointly develop in many areas and geographical locations. Our first deals should be considered as the first block in a larger strategic collaboration,” says Jacob Karlsson, CEO of K-Fast Holding AB.
“We are very pleased with the cooperation with K-Fastigheter. By combining tenant-owned and rental apartments, we are able to create residential areas with greater variety. BoKlok has more than 20 years’ experience from of industrial construction, with its own factory outside Vimmerby. Our concept is strongly inspired by our owners IKEA and Skanska. In K-Fastigheter we have now found a partner who shares our ambition to create attractive and affordable areas through a high degree of industrialization,” says Niclas Bagler, BoKlok Sweden’s manager.
For further information, please contact:
Jacob Karlsson, CEO, e-mail: email@example.com, telephone: +46 738 219 626
Anders Antonsson, IR Manager, e-mail: firstname.lastname@example.org, telephone: +46 709 994 970
Sacha Pardon, Head of Communications & Public Affairs, BoKlok, e-mail: email@example.com, telephone: +46 702 763 426
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 1,700 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 4.4 billion, with an annual rental value of about SEK 200 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