K-Fastigheter has entered into an agreement to acquire a property in an attractive area in the Zealand municipality of Greve, between Copenhagen and Solrød Strand.

“We are pleased to soon be able to start another project in an attractive area south of Copenhagen. There is a strong demand for high-quality rental apartments that can also offer proximity to nature, a beach and good communication opportunities”, says Jacob Karlsson, CEO of K-Fast Holding AB. “In 2020, K-Fastigheter has established operations in four municipalities, in a geographically combined area southwest of Copenhagen. We expect to start the Greve project in March 2021.”

The purchase price for the building right is based on the underlying property value of DKK 43.7 million and is financed through existing cash balances. Estimated lettable area amounts to a total of 10,600 square meters, with an annual rental value of approximately DKK 17.5 million.

Estimated investment amounts to approximately DKK 240 million and the property analysis company Newsec has provided a market-value for the completed project amounting to approximately DKK 331 million, given the current conditions at valuation. Transfer of the property takes place before the turn of the year.