ABGSC acted as joint financial advisor to Storm Real Estate ASA and KMC Properties AS, in connection with combination of the two companies and the related equity and bond financing

On 17 November, it was announced that Storm Real Estate ASA (“Storm”) had entered into a transformative agreement to form a combined entity with KMC Properties AS (“KMC Properties”).
KMC Properties 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 with a combined value of approximately NOK 3 billion. The properties have long lease agreements with BEWi ASA, Insula AS and certain other tenants. KMC Properties is currently owned by EBE Eiendom AS (51%), a company controlled by the Bekken and the Thoresen family, and Kverva Industrier AS (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 (“Pesca”) and Abra Norge AS (“Abra”), all with a long operating history.
Storm is prior to the transaction a single asset company listed on Oslo Stock Exchange and has been actively seeking potential partnerships since entering into a refinancing agreement on 27 May 2020.
The acquisition was financed through a bond issue of NOK 1,850 million, as well as a guaranteed equity issue of NOK 300 million.