Global investment firm Slate Asset Management has acquired the World Seafood Center in Oslo, Norway, for around NOK 1.3 bn (€113 mln), from Oslo Airport City.
The strategic location of the World Seafood Center in the rapidly developing Gardermoen area within Oslo Airport City provides direct access to major transportation networks and offers efficient connections to European, Asian, and American markets.
The seafood refrigeration and distribution facility is leased long-term to some of the world's leading seafood companies, including Mowi, securing stable and reliable cash flow with built-in inflation adjustments.
The World Seafood Center uses 100% green and renewable energy sources, as well as robotics and AI technologies.
Sven Vollenbruch, managing director at Slate, commented: ‘We are pleased to be increasing our exposure to European essential real estate with the acquisition of this premier cold storage and distribution facility. 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.’
The acquisition of the World Seafood Center in Norway strengthens Slate's European portfolio, particularly in the Nordics, tapping into the country's rapidly growing seafood industry, the second-largest export sector, which requires modern processing and storage facilities.
Slate’s portfolio currently consists of around 500 real estate assets, including grocery stores, pharmaceutical and healthcare facilities, and warehouses and logistics centres.
Slate was advised by Pareto Securities, Schjødt, CBRE, KPMG, BER, and agradblue (part of Westbridge). Colliers, Thommessen, and Vedal provided counsel to OAC on this transaction, which is expected to close at the end of June 2024.
