K-Fastigheter buys another building right in Gothenburg

K-Fast Holding AB (“K-Fastigheter”) has acquired yet another building right in Gothenburg. The building right is for approximately 124 rental apartments. The acquisition is made from a company within the Serneke Group and regards all the shares in the company that owns the property Göteborg Gårdsten 7:5. A legally binding zoning plan is in place.

On the acquired property K-Fastigheter plans to construct approximately 124 rental apartments in K-Fastigheter’s own developed concept houses Lateral Low-Rise and Low Rise. Expected yearly rental value amounts to about SEK 16.8 million. Closing and construction start is expected during the fourth quarter 2023. The transaction is a share deal and is based on an underlying property value of SEK 30 million.

The acquisition of the building right in question is the second acquisition in a short time that K-Fastigheter has made in Gothenburg. On May 30, it was announced that the company had acquired a building right in the Sävenäs area at Östra Sjukhuset (Eastern Hospital). Recently, K-Fastigheter has therefore expanded its portfolio of building rights in Gothenburg with approximately 260 apartments. In total, K-Fastigheter has just over 900 apartments under management, under construction or in project development in the Gothenburg area.

“That we can acquire a second building right in Gothenburg in less than a month is something I am very happy about. Gothenburg is an attractive city to build homes in, and I think it’s fantastic that K-Fastigheter can participate and add attractive rental properties in a city that is growing. The fact that we also get the opportunity to build apartments in our Low Rise concept on this property is extra fun”, says Magnus Persson, Business Development Manager at K-Fastigheter.

“I am very satisfied that K-Fastigheter will acquire this building right that we have developed and gained a zoning plan for. With K-Fastigheter´s focus on long term ownership of rental apartments, I am convinced that the area will get a good stakeholder who can contribute to the future development of Gårdsten” says Ola Serneke, CEO of Serneke Invest AB.

For more information, please contact:
Magnus Persson, Business Development Manager
e-post: [email protected], telephone: +46 (0)10-209 61 39

Johan Hammarqvist, Head of Investor Relations and Communications
e-mail: [email protected], telephone: +46 (0)10-167 60 99
 

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 3,830 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 13.6 billion, with an annual rental value of about SEK 504 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