K-Fast Holding AB: K-Fastigheter and BoKlok continue their collaboration to jointly develop 260 rental apartments

2021-06-08 08:30:00

K-Fast Holding AB ("K-Fastigheter") and BoKlok have a previously established collaboration with the goal of building 1,000 new apartments so that more people can create their homes at a reasonable cost. As a step in this collaboration, K-Fastigheter buys building rights for about 260 rental apartments, of which about 120 in the Kohagen estate in Vänersborg, about 40 in the Jupiter estate in Uppsala and about 100 in district of Flacksta in Eskilstuna. With these transactions, the companies reach half of their common goal, to have built 1,000 new apartments at the beginning of 2023.

"We want to establish ourselves in good growth regions and with this deal we are establishing K-Fastigheter in new locations. BoKlok will build 100 apartments on a turnkey contract in Vänersborg and in Uppsala for us. We are building the remaining 160 apartments in our own concept buildings and the total of these apartments will be own and managed by K-Fastigheter following completion," says Jacob Karlsson, CEO of K-Fast Holding AB.

"Our good collaboration with K-Fastigheter continues and in the future, Vänersborg, Uppsala and Eskilstuna will receive a supplement for sustainable housing with reasonable housing costs for many people," says Niclas Bagler, Head of BoKlok Sweden.

The acquisition takes place through three separate real estate transactions and K-Fastigheter also signs two turnkey contracts with BoKlok for a total of 100 apartments. Total investment including K-Fastigheter's internal contract for 160 apartments amounts to SEK 510 million, with an expected future market value of SEK 630 million.

 

For more information, please contact:

Jacob Karlsson, CEO, e-mail: jacob.karlsson@k-fastigheter.se,telephone: +46 738 219 626
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 2,280 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 7.4 billion, with an annual rental value of about SEK 278 million. Since November 2019, the company's Class B shares have been traded on Nasdaq Stockholm under the (ticker: KFAST B). Read more at www.k-fastigheter.com (http://www.k-fastigheter.com/en)

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