“This is our first project in Borås and it gives us good opportunities to develop a good residential area where we can build houses according to K-Fastigheter's three proprietary concept houses,” says Åsa Fredin, Head of K-Fastigheter Project Development. “The detailed development plan for the property is out in consultation and our assessment is that the plan can gain legal force around mid-year 2020."

“With the project in the downtown area of Bergsäter, we look forward to launching a long-term establishment in yet another expanding city. Currently, K-Fastigheter is building in Gothenburg and with close-by Borås we have a good volume that gives us the criteria to continue to grow in the region and along the west coast,” says Åsa Fredin.

“We are very pleased with the deal signed with K-Fastigheter. We have followed their journey in recent years, and have great confidence in their opportunity to develop the new district in Borås. The deal is in line with our long-term strategy and it frees up resources for our continued development of our project portfolio with community and residential properties,” says Jacob Hallberg, CEO of Alhem Fastigheter AB.

The acquisition is being conducted as a corporate transaction, with the underlying property value amounting to approximately SEK 138 million, corresponding to SEK 2,900 per square metre. The transaction is being financed through existing cash balances, with K-Fastigheter assuming ownership of the shares following the approved detail development plan. Advokatfirman Glimstedt, with a team headed by Anders Wennergren, Partner, is the legal advisor to the seller.