Kilenkrysset is deepening its collaboration with K-Fast Holding AB (“K-Fastigheter”) through two transactions in the Mälardalen region, concerning housing in Nyköping and a commercial property in Strängnäs.
In Nyköping, K-Fast Holding AB is divesting the property Nyköping Oppeby Gård 1:7 to K-Fast Kilen AB, a company that is 51 per cent owned by K-Fast Holding AB and 49 per cent owned by Kilenkrysset AB. The transaction is carried out as a company sale without deduction for deferred tax, with an underlying agreed property value of SEK 235.8 m, which corresponds to the book value as at 30 June 2024. The property Nyköping Oppeby 1:7 comprises 100 apartments with a total residential area of 7,277 sq m. The annual rental value amounts to SEK 13.0 m.
After the transaction, K-Fast Kilen AB owns and manages 210 apartments in Nyköping and Strängnäs with an annual rental value of SEK 28.2 m. The company has a further 650 apartments with an annual rental value of SEK 99.2 m under construction and in ongoing project development in Strängnäs and Örebro. These apartments are expected to be completed between 2025 and 2028.
In a separate transaction, K-Prefab Fastigheter AB, a wholly owned subsidiary of K-Fast Holding AB, is acquiring the commercial property Strängnäs Bussen 10 from a company within the Kilenkrysset group. The property, which comprises 6,500 sq m of production space and approx. 30,000 sq m of existing and potential warehouse space, has been leased by K-Fast Holding AB’s subsidiary K-Prefab since 2021. The transaction is carried out as a company sale at an underlying agreed property value of SEK 70.3 m.
“We are very pleased to expand our well-functioning collaboration with Kilenkrysset. Through these transactions we strengthen our collaboration in the Mälardalen region with another residential property in our jointly owned company K-Fast Kilen, and K-Fastigheter also gains control of a commercial property that it currently leases,” says Jacob Karlsson, CEO of K-Fastigheter.
“I find it exciting that we can continue to develop our collaboration in K-Fast Kilen AB and in other ways. Our groups can benefit greatly from each other, and I look forward to our continued collaboration,” says Jan Persson, CEO, owner and Chairman of the Board of Kilenkrysset AB.
For further information, please contact
Jan Persson, CEO, owner and Chairman of the Board, 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. In the Contracting business area, the goal is to deliver completed homes based on the group’s in-house concept buildings as well as high-quality frame solutions. Our precast operations are run in the subsidiary K-Prefab. 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 offers over 5,000 homes from Copenhagen in the south to Gävle in the north and continuously evaluates new markets. As a landlord, we strive to create attractive homes where people enjoy living. The group’s property portfolio has a book value of SEK 15.3 billion. The annual rental value of the completed portfolio amounts to SEK 686 m. Since November 2019 the company’s B shares have been traded on Nasdaq Stockholm (ticker: KFAST B). Read more at k-fastigheter.com
