K-Fast Holding AB has signed a Letter of Intent with Titania for a Joint Venture regarding a building right in Vallentuna comprising 74 apartments. K-Fastigheter intends to acquire 50% of the shares in the company that owns the property Vallentuna Vallentuna-Rickeby 1:48 from a company within the Titania Group. A legally binding zoning plan is in place.

On the acquired property K-Fastigheter and Titania plans to construct approximately 74 rental apartments in the joint company. Estimated Yield on Cost for the project is 6.3%. Closing is expected during 2023 and preliminary construction start is at the turn of the year 2023/2024.

The transaction is a share deal. The cooperation regarding the property in Vallentuna is the first between K-Fastigheter and titania. The agreement is expected to be signed during the third quarter 2023.