Tristan fund sells mixed-use portfolio in Norway

Tristan fund sells mixed-use portfolio in Norway
Devik Park

Tristan Capital Partners’ EPISO 4 Opportunity Real Estate Fund has sold a mixed-use portfolio comprising three multi-let office and last-mile logistics buildings located just outside Oslo city centre.

Known as Devik Park, the 30,259 sq m development including Ole Deviks Vei 2, 4 and 6 is well positioned in one of the most popular office locations in the region boasting excellent access to public transportation and the road network.

Since its acquisition, EPISO 4 and the operating partner Malling & Co Property Partners, has completed major upgrades to the properties including updating the overall appearance of the façades, roofing and drainage as well as improving the assets’ overall operational efficiency.

As a result, the assets are now occupied by a number of attractive tenants including Rema 1000, OneCo and Selecta amongst others.

James Brodie, Managing Director – Portfolio and Asset Management at Tristan Capital Partners, said: “Given the ongoing redevelopment and demand in the Bryn and Helsfyr area, the acquisition of Devik Park represented an attractive investment opportunity which performed very well for the duration of our tenure. Through our active asset management alongside our operating partner Malling & Co Property Partners we have maximised the assets overall potential and strengthened the tenant mix. The transaction demonstrates the continued demand for strategically located and high-quality assets of this calibre.”

Didrik Carlsen, Partner and Head of Asset Management at Malling & Property Partners, added: “It has been a privilege working alongside Tristan, utilising our extensive asset management skills to reposition this portfolio, enhancing the tenant mix and further strengthening the assets attractiveness in the local market.”