KMC Properties ASA

M&A Activity • May 27, 2021

KMC Properties acquires industrial property

KMC Properties acquires industrial property

KMC Properties ASA, a real estate company focusing on industrial- and logistic properties, announces that it has acquired an industrial property in Hustadvika, outside the city Molde on the west coast of Norway from Perfect Temperature Group AS.

“This is an attractive property to us, that fits well into our existing portfolio. It has a long lease agreement with a solid tenant, in an attractive industrial area,” says Liv Malvik, CEO of KMC Properties.

KMC Properties has a triple-net bare house agreement with the tenant, PTG Frionordica AS, with a lease term of 17 years.

PTG Frionordica is an industrial refrigeration company with extensive experience in developing cost-effective cooling solutions to the maritime sector, including the fishing, fish processing and aquaculture industry. PTG Frionordica’s solutions are very energy efficient, and the company has a strong focus on sustainable operations and solutions.

The total consideration for the property is approximately NOK 44 million, with a yield of 7.1 per cent of the total investment cost.

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 39 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.