The Norwegian industrial/logistics sector has seen a flurry of activity with HIG Capital and NREP Logicenters both announcing recent acquisitions.
H.I.G. Capital, a global private equity investment firm with €18bn of equity capital under management, announced that an affiliate had procured Raufoss Industripark, one of the largest industrial parks in Norway, for an undisclosed sum.
The transaction represents H.I.G.’s 26th real estate investment in Europe since the start of 2013, adding to its portfolio of both equity as well as debt investments. Riccardo Dallolio, managing director at H.I.G. London commented: “This is our second investment in Norway and the third in the Nordics in the last 18 months. The Nordics market represents an important part of our European strategy and we continue to actively look at opportunities in the small/midcap sector in the region”.
Meanwhile, Nordic logistics property developer and provider NREP Logicenters, announced the acquisition of its first two properties in Norway for the NREP Nordic Strategies Fund I. The two properties have a combined warehouse space of roughly 15,000m2 and are located in Berger along the E6 highway between Oslo and the Gardermoen Airport.
Rickard S. Dahlberg, Co-CIO of NREP, commented: “The assets are excellent additions to our strategy of developing and owning properties in prime logistics locations, benefitting from a long-term trend of increasing demand and a current shortage of supply.”
Investment in Norway’s industrial/logistic sector has increased rapidly in recent years. According to Malling & Co’s register, the investment volume in the segment increased by more than 200% from 2013 to 2014, with the Oslo region by far the most attractive market for investors. This is largely due to the region’s role as a distribution hub for the rest of the country.
