Slate Asset Management has expanded its real estate footprint in the Nordics with the acquisition of a NOK1.3bn (€113m) seafood refrigeration and distribution facility in Norway’s capital.

The real assets investment manager said it has acquired the newly constructed World Seafood Center facility in Gardermoen from Oslo Airport City.

Slate AM said the 55,000sqm facility in Oslo is let to some of the largest seafood tenants in the world, including Mowi, under long lease terms indexed with consumer-price inflation, which are expected to provide stable and resilient cash flows.

Sven Vollenbruch, managing director at Slate Asset Management, said: “The World Seafood Center has established itself as a critical part of the food supply chain globally, providing consumers across Europe, America, and Asia with access to high-quality Norwegian seafood.

“As global demand for sustainable seafood continues to grow, we look forward to working together with the leading tenants at the World Seafood Center to further enhance the quality, efficiency, and resiliency of this facility, ensuring it remains a major seafood export hub for years to come.”

Slate AM, overseeing $13bn in assets across North America and Europe, has been active in European real estate since 2016. Having made more than 1,000 commercial property transactions in six European countries, Slate AM currently holds a portfolio of around 500 real estate assets, including grocery, pharma and other healthcare services assets and affiliated warehouses and logistics properties.

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