An undisclosed institutional investor entered into a letter of intent to acquire Property portfolio in Denmark from K-Fast Holding AB (publ) (OM:KFAST B) on March 7, 2024. An undisclosed institutional investor signed an agreement to acquire Property portfolio in Denmark from K-Fast Holding AB (publ) (OM:KFAST B) in a transaction valued at ?97.8 million on April 25, 2024. Under the terms of agreement, the transaction is based on an underlying property value of about ?97.8 million. The transaction is subject to the parties entering a binding agreement. The portfolio comprises four properties in the Copenhagen area. K-Fastigheter will, after the divestment, still have a presence in the Copenhagen area through project Ballerup comprising 153 apartments currently under construction.

The transfer of the properties is expected during the second quarter of 2024. The divestment strengthens K-Fastigheter?s balance sheet and enables continued acquisitions of building rights and construction starts of new projects.