Pareto Alternative Investments (PAI), through Pareto Obligasjonsfellesskap Eiendom (POFE), has provided NOK 320m in additional debt financing following IK Gruppen’s acquisition of the two remaining buildings in the quarter; Tollbugata 7 and Tollbugata 11. The key tenant in Skippergata 19 and Prinsens gate 6, hotel operator Citybox Oslo AS, has already expanded to Tollbugata 7 and significantly increased its capacity. The hotel had the highest occupancy rate of all hotels in Oslo in 2018 totaling 90,2%. Other tenants include Maya Apartments AS, Pascal Drift AS and Stockfleths AS. The total WAULT of the portfolio is 12.9 years.
About POFE – Pareto Obligasjonsfellesskap Eiendom is a credit structure established by PAI with the objective to provide long term debt financing for commercial real estate in Norway. The investors behind POFE are Norwegian insurance companies and pension funds. POFE is closed for commitments.