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Nordic Update
Tristan buys landmark office property for 1,22 million EUR
Publicerad: 19 oktober 2018, 04:20
Photo: Tristan Capital Partners.
CCP 5 LL, a fund managed by Tristan Capital Partners, has made a high profile acquisition in Norwegian capital Oslo. The fund has bought a landmark office building in the Helsfyr business district for 1,22 million EUR from Starwood Capital Group.
The fully occupied building was constructed in 2010 and has 18 different tenants. The leasable area is about 31,000 sq.m. and is located at the intersection of Oslo’s two major highways, according to a press release from Tristan.
The company writes that “the Helsfyr submarket is undergoing a rapid mixed-use transformation and has seen over 75,000 sqm of public tenant leases signed in the last two years”.
Tristan will engage Anvil Asset Advisors as its asset manager for the property and Anvil will co-invest alongside Tristan, the press release states.
“The Norwegian economy is experiencing a strong economic recovery following a brief downturn in the oil and gas sector. We believe that positive macro developments will continue to increase office tenant demand for already very limited Grade A office space and drive strong rental growth in Oslo’s CBD,” Anne-Jan Jager, Director at Tristan, comments.
The buyer was advised by CBRE Thommessen and OPAK while Starwood was advised by Pangea Property Partners.
Sverrir Thór