Tristan Capital Partners’ third European property opportunity fund has sold a 14,000sqm mixed-use retail/office building in the capital of Norway for NOK900m (€92m).
European Property Investors Special Opportunities Fund (EPISO 3) sold the asset at Grensen 5-7 to a syndicate of investors structured by Clarksons Platou Real Estate, the manager said.
Jean Philippe Blangy, the 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.”
Tristan Capital Partners has executed 17 transactions valued at over €1.4bn in the Nordics since 2009. Seven of the transactions in Norway have completed since the end of 2015, with a total value above NOK5bn.
“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,” Blangy said.