Through the transaction, Balder will increase its property holdings in Helsingborg while K-Fastigheter will strengthen its presence in Västerås.

“At Balder, we are very satisfied with this agreement, which is a good way for us to refine our building rights portfolio while strengthening our investment property holdings. We are looking forward to taking possession of this fine property in Helsingborg,” says Emil Engelbrektsson, Head of Property Development at Balder.

“We are very happy to be able to expand our presence in Västerås, which is an expansive municipality in the Mälaren Valley. The construction project at Viksäng will complement our already ongoing projects in Västerås in a positive way,” says Magnus Persson, Head of Business Development at K-Fastigheter.

The property Rådhuset 6, which Balder is acquiring in central Helsingborg consists principally of commercial premises for retail, restaurants and offices but also a small number of rental apartments. The transaction is based on an underlying property value of MSEK 136. 

The other part of the transaction means that Balder is selling its building rights in the Viksäng area of Västerås. K-Fastigheter plans to construct approximately 180 rental apartments there in accordance with the company’s low-rise apartment building concept. The underlying property value is MSEK 49. Accessing and vacating the property will occur after completed property reallotment. The profit effect for Balder will be approximately MSEK 30.