August 26, 2021

PEF II newbuild contract at Gardermoen

Pareto Eiendomsfellesskap II has entered into an agreement with Bane NOR to build an additional 3 000 sqm on the property Aurvegen 11 at Gardermoen.

In Q2 2020, Pareto Eiendomsfellesskap II (PEF II) entered into an agreement to construct a 3 000 sqm newbuild warehouse next to Gardermoen (Aurvegen 11) for Bane NOR on a 15-year contract. Bane NOR is a state-owned company engaged in the construction and maintenance of the railway infrastructure in Norway. The property will be a central logistics warehouse in the development of large infrastructure projects going forward, such as the InterCity project, Follobanen and Ringeriksbanen.

The property is an extension of the already existing warehouse in Aurvegen 13, which is fully let to Bane NOR. The completion and subsequent handover is expected to take place in October 2021. When completed, Bane NOR will rent warehouses from PEF II totaling 8 300 sqm. The building is built to achieve a BREEAM-NOR "Very Good" certification, and is well aligned with PEF II's ESG strategy.

About Pareto Eiendomsfellesskap II AS

PEF II is an unleveraged closed-end fund investing in office, retail, logistics and specialized real estate properties in Norway. The investors in PEF II are Norwegian insurance companies and pension funds.

If you have any questions regarding the transacton or Pareto Eiendomsfellesskap II, please do not hesitate to contact the Investment Team.

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