K-Fastigheter acquires building right in Höganäs

K-Fast Holding AB has today acquired a property in Viken, in the municipality of Höganäs, on which it has the opportunity to construct up to 300 rental apartments.

K-Fast Holding AB (“K-Fastigheter”), an active and committed landlord offering attractive homes in southwestern Sweden, has acquired the Höganäs Viken 39:5 property. The site is situated directly adjacent to K-Fastigheter’s previous construction project in Viken, where the company has applied for building permits for 90 apartments in accordance with its Low-rise concept.

The acquisition is being conducted as a corporate transaction, with the underlying property value amounting to EUR 5 million. The transaction is being financed through existing cash balances and the shares has been transferred to K-Fastigheter. The seller is Pervanovo Invest AB.

“Viken is an attractive area by the Sound (Öresund), close to both Höganäs and Helsingborg and, in addition, the market for our Low-rise buildings is very strong,” says Jacob Karlsson, CEO of K-Fast Holding AB. “Our buildings are perfectly suited to the site, which encompasses an area up to 25,000 BTA, and we have a step by step plan to construct additional 1–3 storey buildings. We see good opportunities to meet our tenants’ high expectations on excellent accommodation and we would also like to invite developers working with other types of housing to participate in exchange for allowing us to acquire building rights from them in other locations.”

K-Fastigheter’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 1,600 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 EUR 370 million, with an annual rental value of about EUR 16.8 million.