The Europa Fund II has completed the acquisition of an office investment of NOK 569 million, over 71 million, at Olaf Helsets Vei 5 ("OH5"), in south east Oslo from Acta, the Oslo Municipality Pension Fund.
OH5 provides 44,000 m² of office, educational, light industrial, and health club uses on a site of 4.76 hectares. The property is let to 14 tenants, including Oslo Municipality (education), Norwegian Post, Eniro and Whirlpool and currently produces nearly NOK 45 million in annual rent.
Rob Sim, Head of Asset Management at Europa, said, "Oslo has been characterized by very low vacancies and with OH5 we see a good opportunity to lease up the vacant areas and undertake active asset management."
Source: Finsbury
