K-Fastigheter divests property portfolio in Gävle and Uppsala to K-Fast Kilen AB
K-Fast Holding AB (“K-Fastigheter”) and Kilenkrysset are expanding their cooperation with a new transaction. K-Fast Kilen AB, which is owned 51 percent by K-Fastigheter and 49 percent 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.
K-Fastigheter and Kilenkrysset are expanding their cooperation in the joint company K-Fast Kilen through a transaction in which K-Fastigheter is selling 288 apartments under management, 133 apartments under construction, 176 apartments with building permits but not yet construction started and 242 apartments in the planning stage. In Storvreta in Uppsala municipality, there are 40 apartments under management, while the remaining properties are in Gävle. The annual rental value of the 288 apartments under management amounts to SEK 41.4 million. When all properties in the portfolio are completed, the market value of the portfolio is expected to amount to approximately SEK 2,265 million and comprise 54,725 square meters of housing distributed over 839 apartments with an annual rental value of SEK 125 million.
The transaction is done in corporate form without deduction for deferred tax and with an underlying agreed property value of SEK 700 million for completed investment properties and costs incurred for properties under construction corresponding to SEK 336 million. As of March 31, 2025, the total book value for the properties was SEK 1,126 million. The transaction provides K-Fastigheter with a net liquidity contribution of about SEK 220 million upon takeover on April 30.
”I’m very satisfied that we can deepen our cooperation with Kilenkryseet through our joint company K-Fast Kilen AB. Kilenkrysset is a strong partner and through the transaction our bonds are further tightened. I look forward to continuing to develop as an actor in the residential sector in Mälardalen region with Kilenkrysset” says Jacob Karlsson, CEO of K-Fastigheter.
”This transaction is proof of the good cooperation we have with K-Fastigheter. By acting together and take advantage of each other’s strengths we create conditions for good results and satisfied tenants” says Jan Persson, CEO and owner of Kilenkrysset AB.
As of May 1st, 2025, K-Fast Kilen will have 543 apartments under property management in Gävle, Strängnäs and Nyköping and an additional 1,156 apartments under construction and project development in Gävle, Örebro and Strängnäs. When all properties in the portfolio is completed K-Fast Kilen will have a property portfolio with a market value of about million 4,700 SEK.
For more information, please contact:
Jacob Karlsson, CEO,
e-mail: [email protected], telephone: +46 (0)10-167 60 71
Johan Hammarqvist, Head of Investor Relations and Communications
e-mail: [email protected], telephone: +46 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 the Construction business segment, completed homes are delivered, where K-Fastigheter has chosen to work with three in-house developed concept houses for homes in order to enhance cost efficiency and cut construction times. Furthermore, through the subsidiary K-Prefab, K-Fastigheter delivers complete frame solutions internally as well as to external customers. The Property Management business segment manages the Group's property portfolio with a focus on housing and since April 2025, K-Fastigheter owns 57.6 percent of Brinova Fastigheter AB, which is a leading property company in southern Sweden with a focus on the Öresund region. Since 2019, K-Fastigheter's B shares have been traded on Nasdaq Stockholm (short name: KFAST B). Read more at k-fastigheter.com