Agreement signed regarding divestment of a property portfolio in the Gothenburg area

About this update from K-fast Holding Ab Class B

K-Fast Holding ABK-Fast Holding AB (”K-Fastigheter”) has signed an agreement regarding the property portfolio in the Gothenburg area that the company earlier signed a letter of intent for. The buyer is an institutional investor.On June 5th, 2025, it was announced in a press release that K-Fastigheter had signed a letter of intent regarding the divestment of a property portfolio in the Gothenburg area. The parties have now signed an agreement, subject to conditions being fulfilled, regarding the portfolio comprising 681 apartments under management and construction. The transaction is among other things conditional on approved financing. The intent is that the buyer, an institutional investor, will take over the completed properties comprising 264 apartments on September 30th, 2025. The properties under construction comprising 417 apartments will be taken over as they are completed, which is expected to be the second quarter of 2026, the first quarter of 2026 and the second quarter of 2027.The transaction is made at a total portfolio value of SEK 1,888 million with a 50% deduction for deferred tax, corresponding to an expected net value of SEK 1,839 million. The net book value is expected to amount to SEK 1,856 million upon completion. The transaction is expected to provide K-Fastigheter with a net liquidity contribution of about SEK 592 million during the period, of which SEK 198 million is expected to be received in 2025, SEK 104 million in 2026 and SEK 290 million in 2027. The liquidity contribution will be used to strengthen the balance sheet and to enable construction starts."I am very pleased with the transaction. The transaction shows that our concept houses are competitive in the market and I look forward to handing over the properties under management on September 30th and the ongoing constructions when they are complete. Through the transaction, we continue to focus on our contracting business where we will offer the market attractive housing," says Jacob Karlsson, CEO of K-Fastigheter.The portfolio in question comprises 17,234 square meters of housing area under management in the municipalities of Gothenburg, Ale and Vänersborg and 24,843 square meters of housing area under construction in the municipalities of Gothenburg and Ale.Together, the parties will also manage the property fund through a joint venture. K-Fastigheter will own 40 percent of...

View stock analysis, news, and events for K-fast Holding Ab Class B