7 July 2017
Oslo
Reporter: Theo Andrew

Oslo warehouse purchased for £49.4 million


Fabritius Gruppen has acquired the Onninen Distribution Warehouse in Oslo from Bjorgen Property Investment Holdings for £49.4 million.

The Norwegian property owner and developer purchased the 25,000-square metre office and warehouse space located in Berger Industrial Park.

The two-building asset is 100 percent let to Onninen and is used by the logistics company as its headquarters.

According to Fabritius Gruppen, it is a continuation of the group’s strategy to own and develop logistics properties in Oslo area, and brings its overall portfolio to more than 200,000 square metres with a value of approximately £321 million.

Asgeir Solheim, CEO at Fabritius Gruppen, said: "We know this property and its tenant very well. The site is adjacent to our project at Berger where we have a 13,800 square metre warehouse under construction which is due to complete in Q2 2018.”

Nick Judd, founder and head of investment at 90 North, which advised the seller in the deal, said: “The sale of the Onninen property follows a period of very attractive income returns from the property.”

“In the current investment climate, the ongoing global ‘hunt for yield’ and resulting limited supply of high quality assets being offered for sale, we were naturally reluctant to recommend a sale. However, the sale price achieved was very attractive.”

90 North advised Bjorgen Property Investment Holdings and Arzan Wealth acted as strategic adviser.

More news
The latest news from Real Estate Investment Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
EPIC warehouse acquisition in the pipeline
20 November 2017 | London | Reporter: Stephanie Palmer
Ediston Property Investment Company (EPIC) is set to acquire four retail warehouse parks in the UK from Stadium Group, for £144 million
HFF delivers $288.8 million loan for resi project
17 November 2017 | San Jose, California | Reporter: Theo Andrew
HFF has secured $288.8 million of construction financing for two luxury residential towers in San Jose, California
CBRE Capital Advisors chosen for £100 million fund
16 November 2017 | Belfast | Reporter: Theo Andrew
The Northern Ireland fund will provide debt finance for real estate, regeneration, low carbon and infrastructure projects. It has been appointed on a 15 year mandate
AXA IM - Real Assets hit final close on logistics club
15 November 2017 | London | Reporter: Theo Andrew
The fund, which seeks to invest in 1 million square metres of logistics developments across Europe, raised the equity commitments from four international institutional investors
LaSalle names European head in business restructure
14 November 2017 | Paris | Reporter: Theo Andrew
Karim Habra was previously head of France for LaSalle, and his appointment replaces the firm’s previous structure of naming country heads for Europe
L&G settles on UK retirement villages for £102 million
14 November 2017 | London | Reporter: Theo Andrew
The portfolio, not yet fully developed, will comprise of 694 units, located in Liphook in Hampshire; Faygate in West Sussex; Exeter in Devon; and Great Alne in Warwickshire
Patrizia acquires German-based Triuva
13 November 2017 | Berlin | Reporter: Theo Andrew
Triuva had AUM of approximately €9.8 billion, meaning the deal, for an undisclosed price, places Patrizia in the top 10 European investment managers