Reference is made to KMC Properties ASA's announcement on 30 June 2022 regarding the company entering into an agreement with BEWI ASA for the acquisition of up to 24 properties and one land plot with a gross asset value of up to approximately NOK 2.0 billion and a gross yield of 6.31 per cent.
The first phase of the transaction has now been completed, including 10 properties and one land plot in Norway and Sweden, valued to approximately NOK 900 million. Further, the company expects to complete acquisition of two additional Norwegian properties valued at approximately NOK 40 million within the next six months.
The transaction has been financed by a combination of the new equity raised last week, drawings on existing loan facilities, new committed loans, and cash on balance sheet.
KMC Properties has further an exclusive right to acquire the remaining part of the portfolio valued at up to NOK 1.1 billion. The exclusive right is valid until 30 June 2023.
The acquired portfolio aligns with KMC Properties' core sector of light industrial properties and long-standing working relationship with BEWI.
For further information, please contact:
Liv Malvik, CEO KMC Properties ASA, tel. +47 480 03 175
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.