This is K2A's second acquisition in Växjö from Skanska in short period of time. K2A intends to finance the acquisition through bank loans and equity. The acquisition is conditional on building permits being obtained. Construction is scheduled for August 2020 with the estimated completion in April 2022.
On the property, which has a central location in Växjö, Skanska will build a four-storey house with 56 rental homes with a lettable area of approximately 3,650 square meters. The rental value amounts to approximately SEK 7.3 million.
"This is another investment in a property that will maintain a high standard of quality and durability. Växjö is an attractive place with a high demand for rental housing. We have a number of projects in the area and with this acquisition we will achieve an attractive portfolio of approximately 620 rental and student housing in 2023," says Johan Knaust, CEO of K2A.
The Växjö Skärvet 11 project comprises a four-storey house with 56 rental homes and a lettable area totaling 3,650 square meters.