Hemfosa Fastigheter, a Stockholm-listed real estate investor backed by pension funds, has expanded its presence in Norway after entering the market last month with a €160 mln acquisition.
Hemfosa Fastigheter, a Stockholm-listed real estate investor backed by pension funds, has expanded its presence in Norway after entering the market last month with a €160 mln acquisition.
Hemfosa has acquired a community service property in Fredrikstad, in the eastern Oslo region, for SEK 770 mln (€80 mln) from a group of Norwegian investors.
The asset provides 30,400 m2 and is mainly let to Østfold University College with an average lease term of 13.7 years.
The deal is expected to close next month.
Hemfosa Fastigheter entered the Norwegian market in January with the €160 mln acquisition of six community service properties in the eastern Oslo region. The assets are entirely let to government institutions including public schools, judicial institutions and the police authority with an average remaining lease term of 9.7 years.
The company currently owns SEK 3 bn of assets in the country, according to Hemfosa’s CEO Jens Engwall. 'During 2015, we intend to assess the possibility of additional acquisitions in Norway with which to supplement our portfolio of community service properties,' Hemfosa’s CEO Engwall recently commented.
