K-Fastigheter and Kilenkrysset are expanding their cooperation in the joint company K-Fast Kilen through a transaction in which K-Fastigheter is selling 288 apartments under management, 133 apartments under construction, 176 apartments with building permits but not yet construction started and 242 apartments in the planning stage. In Storvreta in Uppsala municipality, there are 40 apartments under management, while the remaining properties are in Gävle. The annual rental value of the 288 apartments under management amounts to SEK 41.4 million. When all properties in the portfolio are completed, the market value of the portfolio is expected to amount to approximately SEK 2,265 million and comprise 54,725 square meters of housing distributed over 839 apartments with an annual rental value of SEK 125 million.

The transaction is done in corporate form without deduction for deferred tax and with an underlying agreed property value of SEK 700 million for completed investment properties and costs incurred for properties under construction corresponding to SEK 336 million. As of March 31, 2025, the total book value for the properties was SEK 1,126 million. The transaction provides K-Fastigheter with a net liquidity contribution of about SEK 220 million upon takeover on April 30.

”I’m very satisfied that we can deepen our cooperation with Kilenkryseet through our joint company K-Fast Kilen AB. Kilenkrysset is a strong partner and through the transaction our bonds are further tightened. I look forward to continuing to develop as an actor in the residential sector in Mälardalen region with Kilenkrysset” says Jacob Karlsson, CEO of K-Fastigheter.

”This transaction is proof of the good cooperation we have with K-Fastigheter. By acting together and take advantage of each other’s strengths we create conditions for good results and satisfied tenants” says Jan Persson, CEO and owner of Kilenkrysset AB.

As of May 1st, 2025, K-Fast Kilen will have 543 apartments under property management in Gävle, Strängnäs and Nyköping and an additional 1,156 apartments under construction and project development in Gävle, Örebro and Strängnäs. When all properties in the portfolio is completed K-Fast Kilen will have a property portfolio with a market value of about million 4,700 SEK.