KMC Properties - Conditional agreement for acquisition of two production properties in Denmark for DKK 151 million

19.05.2022 04:55

KMC Properties ASA, a real estate company focusing on industrial and logistic properties, announced today that it has received acceptance of a conditional offer for the acquisition of two industrial properties in Denmark for approximately DKK 151.1 million. The properties are composed of a total 85 866 sqm BTA of land and 43 361 sqm BTA of buildings, which were developed or upgraded in the period from 1985 to 2010, with further development potential. 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. "We are very pleased to be expanding our portfolio with two new attractive Danish properties, ticking off all the right boxes of our investment strategy with strategic locations, long lease agreements and with Inwido as a very solid tenant. We look forward to welcoming Inwido is a new tenant and being part of their continued journey going forward," says Liv Malvik, CEO of KMC Properties ASA. Inwido is a leading European provider of customised solutions for windows and doors, with net sales of SEK 7.7 billion in 2021. The transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2022. KMC Property's portfolio currently consists of 46 properties, primarily in the Nordics, constituting approximately 377,000 sqm in total. 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 06:55 CEST on 19 May 2022.