June 5, 2018

PEF II transaction

Pareto Eiendomsfellesskap II ("PEF II") acquired BaneNor's central logistics property at Gardermoen.

In Q2 2017 Pareto Eiendomsfellesskap II (PEF II) entered into a forward contract to acquire a logistics property under construction in Aurvegen next to Gardermoen Airport. The building is now completed, and was handed over to PEF II on May 9 th 2018. The property is 5,366 sqm with  development potential to build an additional 3,000 sqm. The property is leased to Bane NOR (formerly “Jernbaneverket”) 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, Ringeriksbanen etc.

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.

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