K-Fast Holding AB: K-Fastigheter deepens cooperation with Kilenkrysset through transactions in the Mälardalen region

Mälardalen region

K-Fast Holding AB ("K-Fastigheter") deepens its cooperation with Kilenkrysset trough two transactions in the Mälardalen region regarding housing properties in Nyköping and an industry property in Strängnäs.

In Nyköping K-Fast Holding AB divests the property Nyköping Oppeny Gård 1:7 to K-Fast Kilen AB, a company owned at 51 percent by K-Fast Holding AB and at 49 percent by Kilenkrysset AB. The transaction is done in corporate form without deduction for deferred tax and with an underlying agreed property value of SEK 235.8 million which is in line with book value as of June 30[th], 2024. The property Nyköping Oppeby 1:7 comprises 100 apartments with a total area of 7,277 square meters. Annual rental value amounts to SEK 13.0 million.

K-Fast Kilen AB after the transaction owns and manages 210 apartments in Nyköping and Strängnäs with an annual rental value of SEK 28.2 million. The company has an additional 650 apartments with an annual rental value of SEK 99.2 million under construction and ongoing project development in Strängnäs and Örebro. Estimated completion of these apartments is between 2025 and 2028.

In a separate transaction K-Prefab Fastigheter AB, a wholly owned subsidiary of K-Fast Holding AB, acquires the industry property Strängnäs Bussen 10 from a company in the Kilenkrysset Group. The property, leased by K-Fast Holding AB:s subsidiary K-Prefab since 2021, comprises 6,500 square meters of production space and about 30,000 square meters existing and potential storage area. The transaction is carried out in corporate form with an underlying agreed property value of SEK 70.3 million.

"We are very happy to increase our well-functioning cooperation with Kilenkrysset. Through these transactions we strengthen our cooperation in the Mälardalen region with another housing property in our joint company K-Fast Kilen, and furthermore K-Fastigheter gains control over a today leased commercial property" says Jacob Karlsson, CEO of K-Fastigheter.

"I think it is exciting that we can continue developing our cooperation in K-Fast Kilen AB and in other ways. Our respective Groups can draw significant gains from each other and I look forward to continuing the cooperation" says Jan Persson, CEO, owner and chairman of the board of Kilenkrysset AB.

For more information, please contact:
Jacob Karlsson, CEO,
e-mail: jacob.karlsson@k-fastigheter.se,telephone: +46 (0)10-167 60 71
Johan Hammarqvist, Head of Investor Relations and Communications
e-mail: johan.hammarqvist@k-fastigheter.se,telephone: +46 (0)10-167 60 99
 

K-Fastigheter is much more than a property company. Through an integrated process, we build our business in the two business segments Construction and Property Management. In business segment Construction the objective is to deliver completed housing units based on the Group's concept houses, developed in-house, as well as high-quality frame solutions. Our prefab operations is organized in the subsidiary K-Prefab. To enhance cost efficiency and cut construction times, K-Fastigheter has chosen to work with three concept houses for housing, developed in-house. Business segment Property Management manages the Groups property portfolio with focus on housing. K-Fastigheter offers more than 5,000 homes from Copenhagen in the south to Gävle in the north and is continuously assessing new markets. K-Fastigheter strive to create attractive homes with a high comfort factor. The Group's property portfolio has a book value SEK 15,3 billion. Annual rental value in invest properties under management amounts to SEK 686 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