Kilenkrysset and K-Fast Holding AB (“K-Fastigheter”) are expanding their collaboration with a new transaction. K-Fast Kilen AB, which is 51 per cent owned by K-Fastigheter and 49 per cent owned by Kilenkrysset, is acquiring a property portfolio in the municipalities of Gävle and Uppsala from K-Fastigheter. The transaction concerns residential properties that K-Fastigheter has under management, construction and planning in Gävle, and under management in Storvreta outside Uppsala.
Kilenkrysset and K-Fastigheter are expanding their collaboration in the jointly owned company
K-Fast Kilen through a transaction in which K-Fastigheter sells 288 apartments under management, 133 apartments under construction, 176 apartments with building permits but not yet under construction, and 242 apartments at the planning stage. In Storvreta, Uppsala Municipality, the transaction covers 40 apartments under management, while the remaining holdings are in Gävle. The annual rental value of the 288 apartments under management amounts to SEK 41.4 m. When all properties in the portfolio are completed, the market value of the total portfolio is expected to be approx. SEK 2,265 m, comprising 54,725 sq m of housing divided into 839 apartments with an annual rental value of SEK 125 m.
The transaction is carried out as a company sale without deduction for deferred tax, with an underlying agreed property value of SEK 700 m for completed investment properties and costs incurred of SEK 336 m for the properties under construction. As at 31 March 2025, the total book value of the properties was SEK 1,126 m. The transaction gives
K-Fastigheter a net cash injection of approx. SEK 220 m on possession on 30 April.
– I am very pleased that we can deepen our collaboration with Kilenkrysset through our company K-Fast Kilen AB. Kilenkrysset is a strong partner, and the transaction strengthens our ties further. I look forward to continuing to develop long term as a housing player in the Mälardalen region together with Kilenkrysset, says Jacob Karlsson, CEO of K-Fastigheter.
–This transaction is proof of the good collaboration we have with K-Fastigheter. By acting together and drawing on each other’s strengths, we create the conditions for good results and satisfied tenants, says Jan Persson, CEO and owner of Kilenkrysset AB.
As at 1 May 2025, K-Fast Kilen will manage a portfolio of 543 apartments in Gävle, Strängnäs and Nyköping and have a further 1,156 apartments under construction and in ongoing project development in Gävle, Örebro and Strängnäs. When all properties in the holding are completed, K-Fast Kilen will have a property portfolio with a market value of approx. SEK 4,700 m.
For further information, please contact:
Jan Persson, CEO and owner, Kilenkrysset AB
Email: jan.persson@kilenkrysset.se
Phone: 070-766 54 04
Jacob Karlsson, CEO, K-Fastigheter
Email: jacob.karlsson@k-fastigheter.se
Phone: 010-167 60 71
Johan Hammarqvist, Head of IR and Communications, K-Fastigheter
Email: johan.hammarqvist@k-fastigheter.se
Phone: 010-167 60 99
K-Fastigheter is more than a property company. Through an integrated process, we build our business in the two business areas Contracting and Property Management. The Contracting business area delivers completed homes based on the group’s in-house concept buildings, both internally and to external customers, as well as high-quality frame solutions. Our precast operations are run in the subsidiary K-Prefab, which is a complete frame contractor. To increase cost efficiency and shorten construction times, K-Fastigheter has chosen to work with three in-house concept buildings for housing. The Property Management business area manages the group’s property portfolio with a focus on housing. K-Fastigheter owns 57.6 per cent of Brinova Fastigheter AB, a leading property company in southern Sweden with a focus on the Øresund region. Since November 2019 K-Fastigheter’s B shares have been traded on Nasdaq Stockholm (ticker: KFAST B).Read more at k-fastigheter.com
