In the spring, Nrep secured the largest European value-add real estate fund ever with over NOK 40 billion in equity capital, intended for investments in the Nordic and Northern European regions. In May, it was also announced that the fund’s Norwegian venture acquired two central office properties from Entra for NOK 1.5 billion. Now, we can announce that another significant transaction has taken place in Norway with the acquisition of the logistics developer Marine Trading AS.

”Marine Trading AS properties fit well into our Northern European portfolio, with flexible buildings suitable for both large and small logistics tenants. Logicenters has great confidence in Moss as a logistics hub with proximity to the European road and port, as well as attractive access to qualified labor. The properties we acquire also have some environmental qualities and a good foundation to build on, aligning with our focus on sustainability”, says Jørgen Bråten Nordby, Investment Manager and Portfolio Manager at Logicenters in Norway.


The acquisition is a strategic step to increase Logicenters presence in the logistics sector in Norway and ensures more land to continue developing logistics properties south of Oslo. Logicenters is currently building a logistics facility of over 20,000 sqm in Moss on speculation and is expanding its portfolio in the area.

“We at Logicenters are very pleased with our continued investment in Norway. The acquisition of this portfolio is excellent as it allows us to further develop our business. We have great confidence in Moss as a competitive and cost-effective alternative to Vestby. This also aligns with our commitment to offer and develop modern and sustainable logistics solutions for our tenants. The combination of several existing buildings and land fits well with our strategy to continuously facilitate the growth and changing needs of our tenants”, says Matthias Kettelhoit, CEO at Logicenters.


Logicenters is pleased to acquire nine good properties with a total of 78,000 sqm of logistics and simultaneously enter a collaboration with Gudmund Harlem, who becomes a co-investor and will take on an operational role to assist with leasing and further development of the land bank.

“I have had a close and good collaboration with Marine Trading AS for several years to develop the commercial real estate portfolio they have. Together, we have managed to establish many stable tenants in both existing buildings and those that have been erected in recent years. Through this process, I agreed with Svein Willadssen that the time was right to hand over the real estate portfolio to a larger player to further develop the company. I want to thank the team at Marine Trading AS for a close and good collaboration in the process, and I will continue the good work they have done with both the properties and, above all, the close relationship they have had with their tenants and partners”, says Gudmund Harlem.

“After developing our commercial real estate portfolio for over 20 years, the time was right to hand over the continued development of the real estate portfolio to others. Through a good collaboration with Gudmund Harlem over several years, it was natural to initiate a dialogue with Gudmund to hand over our properties to a larger player to further develop the portfolio. I believe that the new owners will manage the properties in a way that will be positive for both our local partners and new and existing tenants. I hereby wish everyone involved good luck and a good collaboration in the process. A special thanks to BDO Østfold, which has assisted us in the process”, says Svein Willadssen, owner of Srw AS.