"The acquisition is completely in line with Tre Kronor's strategy to strengthen its presence in the Norwegian market through the acquisition of well-located grocery properties," says Michael Johansson, CEO of Tre Kronor.

The property is 100 percent leased to Norsk Butikkdrift with a rental period of ten years. Through the acquisition, Tre Kronor's lettable area increases by 1,850 square meters and the rental value increases by approximately NOK 3.2 million.

The property will be taken over during the third quarter of 2020.

Catella Property Asset Management has been a transaction advisor to Tre Kronor.