K-Fastigheter has entered into an agreement relating to the acquisition of the property Järfälla Veddesta 2:65 in the Municipality of Järfälla, north of Stockholm. The seller is Kungsleden Sillberget AB. The underlying total property value is some SEK 259 million and the expected gross total area (GTA) amounts to just over 32,000 square meters.
“This will be a significant project for K-Fastigheter in the Stockholm region. We estimate the investment at some SEK 975 million and the market value upon completion amounts to SEK 1,350 million,” commented Jacob Karlsson, CEO of K-Fast Holding AB.
“We look forward to working with our project in Barkarbystaden, a large neighborhood where up to 50,000 new inhabitants will create their homes. The apartments in our proprietary Lamellhus will be built in an attractive area close to public transport and nature, shops and other services. The seller will pursue the work associated with the detailed development plan and our aim is to build 400 apartments in two phases, the first starting in 2022 and the second in the following year,” commented Åsa Fredin, Business Area Manager for K-Fastigheter Project Development.
The acquisition takes place through a company transaction and the underlying property value amounts to some SEK 259 million, based on SEK 8,001 per square meter GTA above ground. The transaction is financed with existing cash balances. K-Fastigheter takes possession of all the shares in Kommstart 3161 AB, the owner of Järfälla Veddesta 2:65, on the date of approved zoning plan, expected to take place in the fourth quarter of 2021. Christian Karlsson, Advokatfirman VICI, has acted as the buyer’s legal representative and Brick Advokat acted for the seller.