AXA IM Alts has broadened its logistics reach in the Nordics with the acquisition of two fully-leased properties for €125m.

The global alternative investment firm, investing on behalf of clients, has bought the 106,000sqm portfolio in Norway’s capital from Nordic property firm Fabritius Gruppen.

The single-tenant assets, constructed between 2019 and 2023, are located on the Moss Næringspark business park in Oslo.

The deal increases AXA IM Alts’ total European direct equity logistics platform to over €5bn in assets under management across 4.3m sqm in 11 countries.

Fredrik Söderlund, head of asset management and transactions in the Nordics at AXA IM Alts, said: “This acquisition of a high-quality, sustainable and well-let portfolio, in a key strategic location furthers our exposure in one of our high conviction sub-sectors.

“Demand for flexible and modern warehouse space with excellent transport links has been unaffected by wider macroeconomic volatility, driven by the growth of commerce, multi-channel retail and global business-to-business distribution.”

To read the latest edition of the latest IPE Real Assets magazine click here.