K-Fast Holding AB has signed an agreement with an institutional investor regarding the divestment of a property portfolio comprising 311 apartments in Denmark. The parties have now signed an agreement, subject to conditions being fulfilled, under which K-Fastigheter will transfer the properties during the month of June 2024. The transaction is based on an underlying property value of about SEK 1,099 million.

The book value of the properties was SEK 1,145 million at the end of the fourth quarter 2023. The divestment strengthens K-Fastigheter's balance sheet and enables continued acquisitions of building rights and construction starts of new projects. 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.