KMC Properties ASA, a real estate company focusing on industrial and logistic properties, today announces that it has acquired an industrial property with a 12-year lease agreement at Mongstad, Norway, from Ragde Eiendom AS for a consideration of approximately NOK 285 million. The property, located at Storemyra, is composed of a 10,734 m2 BTA industrial plant constructed in 2019, and 62,091 m2 BTA of land, strategically located at the Mongstad industrial site, on the west coast of Norway. Mongstad has for over 40 years been a hub for traditional energy industry and is expanding to encompass new green industry such as land-based fish farming, hydrogen, and battery production. The property comes with a triple-net bare house agreement with the tenant, PSW Technology AS, and an initial lease term of 12 years, with the option of a ten-year extension. PSW Technology is part of the PSW Group AS, an international provider of products, systems, and services to the energy industry, 98 per cent-owned by Hercules Private Equity Fund IV. The total consideration for the property is approximately NOK 285 million, with a yield of 7.7 per cent of the total investment cost. "We continue to execute on our ambitious growth strategy. This acquisition ticks all the boxes in terms of our acquisition criteria: it is a modern facility, strategically located amidst a thriving industrial cluster, with a solid counterparty on a long-term lease agreement, on triple-net bare house terms. The property comprises a large area that can be developed, which opens for further opportunities in a growing industrial zone currently hosting more than 100 companies and 3,000 workers," says Liv Malvik, CEO of KMC Properties. With its 1,200 solar panels over 3,500 m2 on its roof, PSW's facility at Mongstad is the tenth largest solar cell plant in Norway. The building generates approximately 350,000 kWh per year, making PSW Group self-supplied with solar energy and able to export electricity back to the grid in the event of over-production. "To operate in a sustainable manner is important to KMC Properties and is seen as a prerequisite for the company's long-term results and value creation. Therefore, the strong environmental profile of PSW's plant at Storemyra carried a lot of weight in our investment decision," says Malvik. The acquisition will be financed through a combination of bank loan and equity. 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. The information is such that KMC Properties ASA is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:00 CEST on 12 July 2021.