Genesta acquires office property in Oslo (NO)

Genesta acquires office property in Oslo (NO)

Genesta acquires Portal Skoyen in central Oslo. The 23,500m² office property is located along the E18 highway between Skoyen and Lysaker, west of Oslo city center. The acquisition is on behalf of Genesta's fifth fund GNRE Core Plus open ended, and the sellers are Backe Eiendom Invest, Stokke Industri Eiendom and Farvatn Capital.

 

"We are very happy to be back in the Oslo market again. The acquisition is a strategic investment in an already well-established and expanding business district. For example, the new metro station will be a decisive factor for our future tenants," said David Neil, CEO Genesta. "The investment successfully supports our goal to build a high-quality office portfolio across the Nordics. We will now continue to look for new investment opportunities in Oslo and in our other Nordic focus locations."

 

The municipality's plan for Skoyen/Lysaker will increase the utilization rate and elevate the area. The new metro line “Fornebu Line” is currently being constructed and is an extension of the Oslo metro line. The new Vækero Station is one of six new stations and will be located just outside Portal Skøyen and take commuters to Majorstuen in 5 minutes.

 

The property is almost fully let to well-established tenants with long-term lease agreements. The building houses well-known companies including BiliaVerisure and Reitan Convenience. The property is modern, and users can enjoy a wide range of services, for example a restaurant, gym, garage, conference center and a coffee bar.

 

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