Nordic investment manager Genesta has acquired the Portal Skøyen office complex in central Oslo for an undisclosed amount.
The 23,500 m2 office property is located along the E18 highway between Skøyen and Lysaker, west of Oslo city center. The acquisition is on behalf of Genesta's fifth fund GNRE Core Plus open ended, and the sellers are Backe Eiendom Invest, Stokke Industri Eiendom and Farvatn Capital.
‘We are very happy to be back in the Oslo market again. The acquisition is a strategic investment in an already well-established and expanding business district. For example, the new metro station will be a decisive factor for our future tenants,’ said David Neil, CEO Genesta.
The property is almost fully let to well-established tenants with long-term lease agreements. The building houses well-known companies including Bilia, Verisure and Reitan Convenience. The property is modern, and users can enjoy a wide range of services, for example a restaurant, gym, garage, conference center and a coffee bar.
‘The investment successfully supports our goal to build a high-quality office portfolio across the Nordics. We will now continue to look for new investment opportunities in Oslo and in our other Nordic focus locations,’ added David Neil.
Selmer, PWC, and Pangea Project Finance advised Genesta.
