K-Fastigheter is exploring the possibility of divesting a property portfolio in Denmark. A letter of intent has been signed with an institutional investor regarding the divestment of the portfolio. The sales process with technical and economical due diligence is progressing and, subject to the parties entering a binding agreement, the transfer of the properties is expected during the second quarter of 2024.
The transaction is based on an underlying property value of c. €95.2m. The book value of the properties was €101.9m at the end of the fourth quarter of 2023.
The divestment is made to strengthen the balance sheet and to be able to continue to acquire building rights and start the construction of new projects.
Image source - Cision.
Europe Real Estate — an overview of real estate developments in European countries.
