K-Fastigheter buys building right in Gothenburg

K-Fast Holding AB (“K-Fastigheter”) has acquired a building right for approximately 135 rental apartments in Gothenburg. The acquisition is made from ES Smörslottsgatan Andra Holding AB and regards all the shares in the company that owns the property Göteborg Sävenäs 131:14. A legally binding zoning plan is in place.

On the acquired property K-Fastigheter plans to construct approximately 135 rental apartments in K-Fastigheter’s own developed concept house Lateral Low-Rise. Expected yearly rental value amounts to about SEK 22.4 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 about SEK 38 million.

The acquired property is near other properties that K-Fastigheter has in the Sävenäs area at Östra Sjukhuset (Eastern Hospital). 103 apartments are under management and a further 192 apartments are under construction with finalization in December 2023. All in all, this ensures efficient property management.

“I am very pleased that we are acquiring another property in Gothenburg. The fact that it is next to two other properties we own is a big advantage. Gothenburg is growing and in need of more housing and I am happy that K-Fastigheter is contributing to the development of Gothenburg with newly produced rental apartments with high quality”, says Magnus Persson, Business Development Manager at K-Fastigheter.

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