KMC Properties ASA, a real estate company focusing on industrial and logistic properties, today announces that it has signed an agreement for the acquisition of an industrial property outside Ålesund on the west coast of Norway for approximately NOK 52 million. The tenant is Cflow Fish Handling AS (Cflow), a provider of solutions and services for fish handling to wellboats, fishing vessels, delousing and other related services.
The property is composed of a total 13 743 sqm BTA of land and a 3 679 sqm BTA building, which were upgraded in a period to 2006. In addition, the property comes with a quay-area including an 85-metres long deep-water quay of 1 140 sqm.
The property comes with a triple-net bare house agreement with the tenant Cflow including a rental agreement of 14 years and a gross yield of 8.65 per cent.
“We continue our growth path, adding another industrial property at an attractive location and with a solid tenant to our portfolio. Cflow is exposed to aquaculture, an industry we know well through our existing tenants,” says Liv Malvik, CEO of KMC Properties ASA.
The transaction is subject to customary closing conditions and is expected to be completed in October 2022.
Following this acquisition, KMC Property's portfolio consists of 49 properties, primarily in the Nordics, constituting approximately 424,000 sqm in total. In addition, the company has recently entered a transformative agreement with the listed company BEWI ASA, for acquisition of up to 24 properties and one land plot with a gross value of up to NOK 2.0 billion.
For further information, please contact:
Liv Malvik, CEO of KMC Properties ASA, tel. +4748003175
About KMC Properties ASA
KMC Properties is an Oslo Børs listed real estate company focusing on industrial- and logistic properties. The company has a diversified portfolio of properties, mainly in the Nordics and the Netherlands. The properties are strategically located and have long lease agreements with solid tenants.
KMC Properties has an ambitious strategy to grow the portfolio through further development of existing properties, as well as M&A initiatives.