KMC Properties AS is a privately owned real estate company that at the time of completion of the Transaction will own 39 industrial properties in 5 countries in the Nordics and in the Netherlands (the "KMC Portfolio") with a combined value of approximately NOK 3 billion. The properties have long lease agreements and solid tenants. KMC Properties is currently owned by EBE Eiendom AS (“EBE”) (51%), a company controlled by the Bekken and the Thoresen family, and Kverva Industrier AS (“Kverva”) (47%), as well as certain minority shareholders (2%).
KMC Properties is a result of three Trondheim-based industrial real estate companies consolidating into one, including KMC Properties, Pesca Properties AS and Abra Norge AS, all with a long operating history. Storm Real Estate is prior to the Transaction a single asset company and has been actively seeking potential partnerships since entering into a refinancing agreement on 27 May 2020.
The combined entity will have a strong platform to execute on a pipeline of attractive growth opportunities. The ambition isto become the preferred partner and market leader within industrial real estate properties for selected industries, as well as a listed and liquid share as a valuable currency for further growth. Liv Malvik, CEO of KMC Properties comments:
“This partnership is very attractive to KMC Properties. The combined company will have a very solid platform for growth. Our real estate portfolio includes 40 properties with business-critical locations for our tenants. We have a pipeline of attractive growth opportunities and by teaming up with Storm Real Estate, we get a listing at Oslo Børs, enabling access to capital, as well as access to the extensive industrial knowledge the management in’ Storm possess.”
Morten E. Astrup, deputy chairman of the board of Storm Real Estate comments:
“We are very excited to partner up with KMC Properties. Storm Real Estate has in recent years clearly stated our strategy of seeking a partner who can add real estate and expertise, with the goal of becoming a large diversified real estate company with ambitions for further growth. KMC has a very attractive portfolio with long lease agreements and solid tenants. I look forward to continue this journey together.”