Tristan Capital Partners’ European Property Investors Special Opportunities Fund (EPISO 3) has sold a mixed-use building in central Oslo for c. €92m (NOK 900m) to a syndicate of investors structured by Clarksons Platou Real Estate. The disposal is Tristan’s second sizeable office deal in Oslo in the past six months, following the landmark acquisition of Helsfyr Atrium in October.
Located 150 metres from Oslo’s principal shopping street, Karl Johans gate, at Grensen 5-7, the asset offers a gross lettable area of approximately 14,000m². The area is a sought-after office and retail location with excellent public transport links and a high footfall.
Jean Philippe Blangy, Head of Asset Management at Tristan Capital Partners, said: “We started investing in Norway a decade ago and over that time the market has emerged as an increasingly desirable destination for international capital. We have been particularly active in the Norwegian office sector in recent years, as reflected in this latest disposal in Oslo, where we have regeared all four current tenants and secured one additional tenant over the past four years.”
Commenting on the investment landscape in Norway, Anne-Jan Jager, Director at Tristan, said: “The Norwegian market has performed well in the past few years, with the office sector, in particular, being driven by robust demand and constrained supply. From an investment perspective, we still see value in Oslo and continue to proactively seek opportunities in strong locations.”
