Nordic real estate fund manager Genesta has acquired a 14,000 m2 office property in central Oslo for €59 mln.
Genesta carried out the transaction on behalf of Genesta Nordic Real Estate Fund II (GNRE Fund II).
The asset at Mariboes Gate 13 was sold by Norwegian real estate company T. Klaveness Eiendom.
Mariboes Gate 13 is located in the eastern part of the city centre that provides a mix of offices, shops and restaurants, close to the governmental area and the central station. The property is situated just outside the area proposed to be a car-free zone from 2019.
'The property will offer our tenants modern and efficient office space in a great location,' said Genesta CEO David Neil. 'We are pleased to be adding Mariboes gate 13 to our growing portfolio of office and retail properties across the Nordics.'
Pangea Property Partners advised Genesta in the transaction.
This is the sixth acquisition on behalf of GNRE Fund II, a fund with €373 mln of committed capital from twelve institutional investors.The strategy is to provide institutional investors with access to value-add office property investments in Stockholm, Copenhagen, Helsinki and Oslo.
The fund also invests in retail and logistics properties in large metropolitan areas in the Nordic region.
