K-Fastigheter has signed an agreement regarding the acquisition of all the shares in Joelberg AB, owner of the property Ale Nödinge 5:93. The transaction is conditional on the detailed development plan for the property gaining legal force. On the property, K-Fastigheter intends to build Apartment Blocks with up to 130 rental apartments and a gross floor area (GFA) of some 10,800 square metres.

“The acquisition is in line with our strategy to expand in western Sweden and it will be an addition to our current property portfolio in Surte, also in the municipality of Ale. Nödinge is a growth region in an attractive location with demand for housing units”, commented Jacob Karlsson, CEO of K-Fastigheter. “The Nödinge Centrum is currently being redeveloped, with the construction of a new town hall and substantial investment in infrastructure, new premises and housing units. If you want to live in an attractive location with great amenities within 30 minutes of central Gothenburg, Nödinge is the right place for you.”

The acquisition takes the form of a corporate transaction, with a preliminary purchase price of SEK 31.4 million based on a price of SEK 3,000 per square metre GFA. The transaction is financed through existing cash balances. The estimated lettable area totals 8,500 square metres, with an annual rental value of some SEK 15.3 million. Transfer of the shares is conditional on the detailed development plan gaining legal force. The seller is Joelberg AB.