Pareto Alternative Investments AS (“PAI”) has provided NOK 242m in debt financing for the multi-tenant office and educational building Sørlandet Kunnskapshavn in Kystveien 2 and 2B, Arendal municipality. The property measures 11 827 sqm and consist of two connecting buildings completed in 2012 and 2014, respectively. Arendal municipality is the largest tenant covering more than 50% of total rental income, with an expiry at the end of 2034. Other tenants include Telenor Maritime AS, Husbanen and Rambøll Norge AS, with a total WAULT on all lease contracts of ~9.1 years.
PAI provided the debt financing through its sustainability linked real estate fund Pareto Real Estate Credit Fund (“PREC”) and Pareto Eiendomskreditt (“PEK”).
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