K2A sells Umeå property

K2A Knaust & Andersson Fastigheter is selling its Umeå Äppellunden 1 property to Bantorget Hyresbostäder. The sale is taking place at an underlying property value of SEK 135.7 million, which corresponds to 99.8 percent of the book value as of the latest interim report.

The property, which was completed in 2023, contains 83 rental apartments with a lettable area of 3,852 sqm (living space) and has Nordic Ecolabel certification. The sale means that K2A has sold a total of eleven properties in 2023.

“Once again, we’re demonstrating that K2A’s assets – homes in attractive locations with stringent environmental requirements and high standards – are also attractive in today’s transaction market,” says Johan Knaust, CEO of K2A. “Through this sale, we’re freeing up additional liquidity and boosting our balance sheet.”

K2A is transferring the property with vacant possession on 19 December. The sale is based on an underlying property value of SEK 135.7 million, with a deduction for deferred tax of 5.15 percent. The valuation corresponds to 99.8 percent of the book value of the property as of 30 September 2023.

The buyer, Bantorget, is owned by seven trade unions in the LO (Swedish Trade Union Confederation) sphere, with the company being constituted in 2017. The company currently owns newly constructed rental housing in Stockholm, Gothenburg, Malmö, Linköping and Umeå.

For further information:
Johan Knaust, CEO, +46 (0)70-740 04 50, johan.knaust@k2a.se
Karl Vahlund, Head of Transactions, +46 (0)72-241 10 70, karl.vahlund@k2a.se

K2A Knaust & Andersson Fastigheter AB – the green real estate company – provides long-term management of rental apartments for all types of housing and community service properties. The company's markets are in Stockholm, the Mälardalen region and a number of university towns elsewhere in Sweden. See also www.k2a.se. K2A's B shares (K2A B) and preference shares (K2A PREF) are listed on Nasdaq Stockholm.