Tristan Capital Partners’ Curzon Capital Partners 5 Long-Life Core Plus Fund has acquired its first light industrial/logistics asset in Norway from Bergen Næringsbygg.
Located in Norway’s second-largest city, Bergen, the asset provides 33,000 m2 of high-quality industrial space with last mile logistics potential and is 100% let to a diversified and strong tenant base delivering consistent and long-term cash flow.
The acquisition is part of the fund’s strategy to grow its last mile logistics platform around Oslo, Bergen, Stavanger and Trondheim.
Halvor Sand, associate director at Tristan Capital Partners, said: ‘Norway has always been viewed as an attractive proposition for the Fund, which is evidenced by the quality of our transactions. With rents in Bergen likely to continue increasing due to strong occupier demand and limited supply, we are confident that this asset will generate an attractive return for our Fund and its investors.’
Anvil Asset Advisors will be the operating and JV-partner for the investment. The Fund was advised by Arctic Securities, Wikborg Rein, PwC, CBRE and Ramboll.
