Pareto Eiendomsfellesskap (PEF) divested a portfolio of big box retail properties located in Lillestrøm, Fredrikstad and Hamar during the second quarter of 2019. The portfolio is leased to a total of 4 tenants, anchored by strong performing retailers such as Optimera, Jula and Skeidar – all with contracts secured in the respective lessors’ national parent company. The majority of the portfolio’s tenants operate within building supplies, an industry with 5% revenue growth (CAGR) over the last five years and with solid operating margins. The portfolio has 11.3 years remaining WAULT, 100% CPI and 0% vacancy.
Akershus Eiendom and Advokatfirmaet Haavind assisted Pareto Eiendomsfellesskap in the sale of the properties.
About PEF – Pareto Eiendomsfellesskap is a closed-end property fund established in 2009 to offer institutional investors an unlevered exposure to logistics properties in Norway. The fund strategy is directed towards modern and centrally located logistics properties with long leases and solid tenants. The portfolio consists exclusively of logistics properties following the strategic divestiture of the retail properties.
Pareto Obligasjonsfellesskap Eiendom (POFE) has provided a NOK 320m increase of the existing bond issued by IK Gruppen AS. The bond has first lien security in the properties in Kvadraturen Hotell Holding AS - Skippergata 19, Prinsens gate 6, Tollbugata 7 and Tollbugata 11 located in the city centre of Oslo.
Pareto Eiendomskreditt (PEK) has provided debt financing for the acquisition of Fyrstikkalléen 3 centrally located at Helsfyr in Oslo.
