K-Fastigheter has entered into an agreement to acquire the property Västerås Östra Vildrosen 1. The vendors have pursued the zoning plan process to create building rights of just over 10,000 square meters gross total area (GTA) for mainly homes. The zoning plan for the property thus gives K-Fastigheter the opportunity to build up to 120 apartments in its proprietary concept buildings. K-Fastigheter will acquire the shares on 30 October 2020.

“With today’s agreement, K-Fastigheter will have a clear presence in Västerås and Mälardalen, a region that is an important part of our continued growth. This is K-Fastigheter’s first transaction of several in Västerås and we see good opportunities to increase our activity in several of the strong growth municipalities in the Mälardalen region,” says Jacob Karlsson, CEO of K-Fastigheter.

“On the property, we plan to build four Lateral Low-Rise buildings and an Apartment Block, in total 120 apartments with associated parking spaces on the ground floor and a commercial premises on the ground floor containing, among other things, a pharmacy. We expect to start construction in 2021”, says Jacob Karlsson.

“It feels good to be able to hand over the project after our planning work to an active operator such as K-Fastigheter, whose focus is to develop attractive and affordable rental apartments,” says Mark Butler, CEO for Tarpen Nordic AB, an affiliate of Neprat.

Annual rental value is estimated to amount to approximately SEK 15.5 million after completion. The acquisition takes place through a company transaction and the underlying property value amounts to SEK 34 million, which corresponds to approximately SEK 3,330/square meter GTA. Financing takes place through existing cash balances. Angermann has acted as advisor to the sellers.