K2A Knaust & Andersson Fastigheter has signed an agreement to acquire the property Glidet 1 in Luleå, where 95 homes will be developed. The seller is Lerstenen and the transaction is based on a property value of approximately SEK 184 million. Lerstenen will finance, build and complete the project in its entirety and K2A will take over the property after the project is completed, which is expected to take place during the second quarter of 2023. K2A has paid a down payment when entering into the agreement and remaining payment in connection with access to the completed properties. K2A intends to finance the acquisition through bank loans and equity.
The property will comprise a total of 95 rental apartments with a lettable area of approximately 4,600 sqm. The rental value is estimated to amount to approximately SEK 9 million on an annual basis. The project is located in the Kronan area about 3 km from central Luleå and is part of a larger development area that is expected to add a total of about 7,000 residents in the district as well as housing in various tenancies, schools, sports hall and own district center with shops and restaurants.
"It is really fun that in a short time we have now signed two agreements to build rental housing in Luleå. The city is a student city with active business life. The project is part of a new modern district in central Luleå, and is completely in line with our ambition to become nationwide for sustainable housing in growing student cities," comments Johan Knaust, CEO of K2A.
The project will be environmentally certified according to Miljöbyggnad Silver and correspond to medium green, ie the second highest environmental class according to Cicero's framework.
Following the acquisition, K2A's portfolio in Luleå consists of two projects which at the end of 2023 are planned to be developed with a total of 210 rental housing units.