Tristan Capital Partners' EPISO 4 real estate fund has acquired three multi-let office buildings in Oslo for €57 mln.
The assets, located on Ole Deviks vei in the Bryn office district just outside the city centre, were acquired from local investor Tveten Park AS, in a joint venture with Oslo-based agency Malling & Co. They comprise 30,500 m2 of mostly office space as well as a grocery store.
The transaction is Tristan's second large off-market acquisition in the Norwegian capital in just over six months. In October it bought Helsfyr Atrium, a 31,000 m2 office building in the city centre, from Starwood Capital Group for €122 mln.
Malling & Co Project Finance advised on the buying side and will act as asset manager going forward.
The deal brings the total amount of transactions in the Nordic markets by Tristan Capital Partners in the decade since its foundation to €1.4 bn.
Director Anne-Jan Jager said: 'Ole Deviks vei 2, 4 & 6 is an attractive investment opportunity given the ongoing redevelopment in the Bryn and Helsfyr areas, which we believe will further increase the attractiveness of these submarkets.
'Together with the Malling team, we have identified several value creation initiatives that we will be focussing and executing on going forward.'
Mads Mortensen, managing partner at Malling & Co Project Finance, said: 'We are delighted to participate as joint venture partner and buy side advisor for Tristan in this transaction. As asset manager for the project, we look forward to executing on the business plan over the coming years.'
