KMC PROPERTIES – Completion of first phase of acquisition of industrial property portfolio from BEWI

09 Nov 2022 06:55 CET

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.

More information:
Access the news on Oslo Bors NewsWeb site