Press release -
Colliers advisor when Swedish public company K2A divests properties for SEK 650 million
K2A Knaust & Andersson Fastigheter has completed a divestment comprising four properties in Växjö with an underlying property value of SEK 650 million. Closing of the transaction is 30 June 2023 and the buyer is Resinova Bostad AB. Colliers has been K2A's financial advisor during the process.
At the properties in Växjö, K2A has developed 261 rental apartments with a combined lettable area of 17,960 sqm and a rental value of SEK 32.8 million. The sale of the properties is based on a combined underlying property value of SEK 650 million, which represents an average yield of 4.1 per cent. The valuation represents 100 per cent on the book value of these properties as of 31 December 2022.
André Lundberg Head of Capital Markets & Partner at Colliers says "This deal confirms the high value of quality homes that K2A holds and is a very good example that demonstrates the market's continued interest."
"This is K2A's second major sale in a short time at attractive levels, which strengthens the image of K2A owning attractive, high-quality assets," says Johan Knaust, CEO of K2A.
The buyer of the properties is Resinova Bostad AB. Resinova is a platform with focus on acquiring and owning newly built or recently built sustainable rental housing in Sweden. The company is managed by Möller & Partners.
"We are delighted to have acquired high quality housing in an excellent location in the centre of Växjö. Location, quality and environmental certification have been key factors for us in this transaction," says Henrik Jussi-Pekka, CEO of Möller & Partners and co-founder of Resinova.
On 19 April 2023, K2A announced the sale of six properties in Västerås, Gävle and Uppsala. Along with the sale now being announced, the two sales represent an underlying property value of SEK 1,745 million and strengthen K2A's liquidity by SEK 635 million.
The law firm Advokatfirma Lindahl KB has acted as legal advisor to K2A, and the law firm Kilpatrick Townsend & Stockton Advokat KB has acted as legal advisor to Resinova.
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Colliers is a leading global real estate advisory firm with an enterprising culture. Our pan Nordic team consists of more than 250 professionals in Sweden, Norway, Denmark and Finland within the advisory business, whereas +80 Capital Markets experts. Colliers is the market leader in the region, with over 27% of market activity based on a full-year 2021 RCA data. Colliers experts offer qualified knowledge within Capital Markets, Debt Advisory, Project Finance, Leasing, Occupier Services, Valuation, and Research. With offices in all Nordic countries and a strong Nordic cooperation, we create effective solutions to create value for all our clients, both locally and cross borders.
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About Colliers Group
Colliers is a leading diversified professional services and investment management company. With operations in 63 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.6 billion and $92 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
