K2A Knaust & Andersson Fastigheter is selling its Umea Appellunden 1 property to Bantorget Hyresbostader. The sale is taking place at an underlying property value of €12m, which corresponds to 99.8% of the book value as of the latest interim report.
The property, which was completed in 2023, contains 83 rental apartments with a lettable area of 3,852m2 (living space) and has Nordic Ecolabel certification. The sale means that K2A has sold a total of eleven properties in 2023.
“Once again, we’re demonstrating that K2A’s assets – homes in attractive locations with stringent environmental requirements and high standards – are also attractive in today’s transaction market. Through this sale, we’re freeing up additional liquidity and boosting our balance sheet,” said Johan Knaust, CEO of K2A.
K2A is transferring the property with vacant possession on 19 December.
The buyer, Bantorget, is owned by seven trade unions in the LO (Swedish Trade Union Confederation) sphere, with the company being constituted in 2017. The company currently owns newly constructed rental housing in Stockholm, Gothenburg, Malmo, Linkoping, and Umea.
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