KMC Properties ASA

07/15/2022 | Press release | Distributed by Public on 07/15/2022 00:30

KMC Properties signs agreement for acquisition of two production properties in Denmark

With reference to stock exchange notice of 19 May 2022, regarding KMC Properties receiving acceptance of a conditional offer for the acquisition of two industrial properties in Denmark for approximately DKK 151.1 million, the parties have now signed an agreement. The properties come with a triple-net bare house agreement with the tenants KpK Døre og Vindue A/S and Outline Vinduer A/S, both part of the listed company Inwido, with an initial lease of 10 years and an option to extend. Total consideration for the two properties is approximately DKK 151.1 million, with a gross yield of 7.85 per cent. The transaction is subject to customary closing conditions and is expected to be completed in August 2022. KMC Property's portfolio currently consists of 46 properties, primarily in the Nordics, constituting approximately 377,000 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 in the Nordics and the Netherlands, as well as an office building in Moscow, Russia. 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.