French investor Corum Asset Management has made its Norwegian debut with the acquisition of a newly developed and fully let retail park located in Elverum, Norway.
Financial details were not disclosed.
The retail park comprises some 11,180 m2 of retail space with tenants including Rusta, Elkjøp, Power, Byggmaker, Europris and Thansen. The asset was purchased for Corum's Corum XL fund from a group of private investors.
'We are pleased that we can expand our presence in the Nordic area with our entry into the Norwegian real estate market after having successfully been investing into the Finnish market for a few years,' said Philippe Cervesi, Corum AM, investment director. 'We intend to further expand our investments in the region the coming year.'
Nordic advisory firm Renger Investment Management (RIM) sourced the investment and advised Corum on the deal.
'RIM's cooperation with Corum is successfully expanding throughout the Nordics,' said David Renger, CEO of RIM.
'The cooperation with Corum is in line with RIM's strategy to engage together with financially strong and well renowned real estate investors in the Nordic region. We appreciate the continued trust from Corum and we are looking forward to continued cooperation on their expansion in the region.'
Bjørn Slaatta at DLA advised Corum on legal matters, while Akershus and Wiersholm advised the vendors commercially and legally.