K-Fastigheter obtains building rights for 130 rental apartments in Höganäs
K-Fastigheter has entered into an agreement with SBB on the acquisition of the subsidiary that owns part of properties Olympia 14 and Stataren 2 in Höganäs. K-Fastigheter plans to build approximately 130 rental apartments in the Group’s proprietary concept buildings Apartment Block and Lateral Low-Rise in Höganäs.
K-Fast Holding AB (“K-Fastigheter”) acquires parts of two properties in Höganäs and divests properties in Kristianstad and Hässleholm through a joint venture transaction with SBB. The transaction involves K-Fastigheter acquiring companies owning part of Olympia 14 and part of Stataren 2 with an estimated total underlying property value estimated to SEK 50.8 million. At the same time, K-Fastigheter has agreed to sell subsidiaries as owners of the properties in Hässleholm and Kristianstad on which there are existing community properties (one special accommodation and two preschools), the properties are valued at SEK 50.8 million.
“We are glad to be able to continue to work according to our business model of developing, building, and managing our concept buildings through this deal. SBB is skilled in community real estate, which feels good considering that the properties we are exchanging, includes one special accommodation and two preschools. Together with SBB, we can pursue the zoning plan in Höganäs for apartments that suits us perfectly, this is a good complement to our existing rental apartments in Höganäs,” says Magnus Persson, Business Development Manager at K-Fastigheter.
Gross floor area (GFA) amounts to about 14,500 square meters with the possibility of building about 130 rental apartments. Expected annual rental value amounts to approximately SEK 18.1 million. Transfer of assets will take place once the zoning plan has gained legal force and other conditions have been fulfilled.
For more information, please contact:
Magnus Persson, Business Development Manager,
e-mail: magnus.persson@k-fastigheter.se, telephone: +46 10 209 61 39
Anders Antonsson, IR-Manager,
e-mail: anders.antonsson@k-fastigheter.se, telephone: +46 708 730 900
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 3,100 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 10.5 billion, with an annual rental value of about SEK 370 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
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