The property is fully let to a mix of attractive tenants, operating warehouse and storage areas as well as sports facilities. Areim is planning to improve the property’s EPC level and will undertake several energy efficiency measures such as installing solar panels to make it more attractive from a sustainability perspective.

“We are happy to announce the acquisition of our second light industrial investment in Norway. The transaction was made possible in the current market conditions through the good co-operation between all parties. This segment is an important part of our strategy and as our portfolio in the capital region continues to grow, we look forward to taking further advantage of the growing demand for central locations as well as increasing the overall attractiveness of the property for our tenants going forward”, says Petter Falck, Head of Areim Norway.

Last year, Areim marked its first acquisition in Norway when acquiring Rolf Olsens vei 30-32 in Lillestrøm. The property is approximately 5,700 sqm on a 40,000 sqm land plot and has significant development potential over time. With the acquisition on Østre Aker vei 60, Areim’s Nordic light industrial portfolio includes nearly 70 properties of 328,000 sqm lettable area. The portfolio also includes a substantial development potential in terms of undeveloped building rights.

The seller, Ragde Eiendom, were represented by UNION Norsk Næringsmegling, and ORO Eiendom and Arctic Securities have been the advisors in the transaction.