From Financialpost · · 1m 40s
Slate and OneIM Acquire Oslo Grocery Retail Portfolio
Slate Asset Management and OneIM agree to buy €250m of grocery-anchored retail properties in Norway.
In brief
Slate Asset Management and OneIM agree to buy €250m of grocery-anchored retail properties in Norway. Slate Asset Management and OneIM acquired eight grocery-anchored retail parks in Norway's Greater Oslo region for approximately €250 million. Originally reported by Financialpost.
Slate and OneIM Announce Oslo Retail Portfolio Deal
Slate Asset Management and One Investment Management agreed to acquire a portfolio of eight grocery-anchored retail parks in Norway from Tellus Eiendom AS.
Portfolio Anchored by Norway's Top Grocery Operators
The portfolio is located in the Greater Oslo region and features Coop, NorgesGruppen, and Reitan Retail as key tenants.
Slate Highlights Inflation-Protected Cash Flows
Slate's co-founder Brady Welch noted the portfolio benefits from CPI-linked lease structures for durable, inflation-protected cash flows.
Tellus CEO Expresses Satisfaction with Sale
Per Øivind Dahl, CEO of Tellus Eiendom AS, stated they built the portfolio over many years and are pleased to entrust it to Slate.
Tenant Sales Show Resilience Through Economic Shifts
Tenant sales have grown consistently across the portfolio despite inflation and rising interest rates, demonstrating necessity-driven demand.
Acquisition Builds on Existing Nordic Investments
This acquisition follows Slate and OneIM's investments in five grocery-anchored retail properties in Greater Copenhagen and four essential real estate properties in Germany.
Slate Scales Nordic Real Estate Platform
The deal further scales Slate's growing Nordic platform and adds to its pan-European essential value add real estate strategy.
Slate's European Real Estate Activity Since 2016
Slate has been an active investor in European real estate since 2016, transacting on more than 1,000 commercial properties across nine countries.
What it means
Slate Asset Management and OneIM acquired eight grocery-anchored retail parks in Norway's Greater Oslo region for approximately €250 million.
