Mortensrud Square is a 7,100 sqm retail property located by the Mortensrud metro station. The property was built in 2012 and has Kiwi, Fitness 24 Seven and Europris as largest tenants.
 
“This is AP Nordic Investment’s fourth property in Norway and the eight in the Nordics. The fund’s investment strategy is to invest in properties with a stable cash flow and good technical standards in Nordic growth areas” says Lina Alvemur, Fund Manager in Aberdeen.
 
“Mortensrud Square is located in an area of Oslo that is growing and the close proximity to public transportation makes this an interesting investment for funds” says Aberdeen Asset Management’s transaction manager Jens-Petter Guthus.
 
“Profier has been in charge of development and leasing and FG Eiendom has managed the property. We have managed the property for about three and a half years and have come a long way in tuning the operation and establishing a tenant mix that fits what the local market demands” says Steinar Wallestad at Profier AS.
 
“Revenue-wise the cnter has had a annual growth of approximately ten percent” says Trond Aasgård, Chairman at Mortensrud Næring AS, “and we see that Mortensrud is a central hub for the Søndre Nordstrand district and is growing due to a lot of people moving here”.
 
“We have also developed and constructed apartments at Mortensrud, and during Q4 this year we want to finish the final 72 apartments out of 201” Trond Aasgård finishes.
 
Aberdeen Asset Management is one of Norway’s largest landlords of commercial properties and currently manages almost 1 million sqm in both office, retail and school properties all over the country.
 
Colliers by Carl Fredrik Marti were the seller’s advisor.