Business Wire

Slate Accelerates Growth in Europe with NOK 1.5 Billion Portfolio Acquisition of 36 Essential Real Estate Assets in Norway

Share

Slate Asset Management ("Slate”), a global alternative investment platform targeting real assets, announced today the acquisition of a portfolio of 36 essential real estate assets in Norway for over NOK 1.5 billion. This transaction closely follows the firm’s first two portfolio acquisitions in the region in December 2021 and March 2022, expanding Slate’s footprint in Norway to a collective 63 essential real estate assets.

The portfolio’s two main tenants are grocers Reitan Group and Coop Norge, which collectively anchor all of the 36 properties. These Class-A operators are two of the largest consumer goods distributors globally, together holding over 50% of grocery market share in Norway.

The majority of the assets being acquired by Slate are concentrated in and around Norway’s two most densely populated cities, Oslo and Bergen. With over 96% of the portfolio’s income generated by essential goods and service providers, the portfolio is well-positioned to provide long-term secured cash flows, as well as protection against inflation with CPI linked leases.

Slate has identified a number of optimization and modernization opportunities in partnership with the portfolio’s tenants to realize additional upside and increase turnover potential at these property locations, including installing more sustainable infrastructure, making facade improvements and more.

“Essential real estate is one of our highest conviction investment themes, and we continue to accelerate our exposure to this asset class and scale our platform in Europe,” said Brady Welch, Founding Partner at Slate. “This transaction significantly grows our footprint in one of Europe’s strongest and most stable economies with a portfolio of properties that are modern, high-quality and underpinned by best in-class tenant covenants. Our hands-on approach to asset management will enable us to identify and unlock the full potential of these assets to provide our investors with attractive long-term returns.”

Slate has completed over €1.7 billion in transactions across Europe to date. The firm’s European Essential Real Estate Strategy is focused on high-quality, income producing assets critical to the supply chain with high credit quality tenants, such as grocery and other essential consumer goods providers, healthcare assets, and affiliated warehouses and logistics centers. Slate’s European platform is supported by four offices across the UK and continental Europe. The firm intends to establish a fifth office in Norway in the first half of 2022.

Slate worked with Norne Securities, Schjødt, CMS Kluge, Union, BER as well as KPMG Norway on this transaction, which closed on March 31, 2022.

About Slate Asset Management
Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus, and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Slate Asset Management
Karolina Kmiecik
Karolina@slateam.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Maxion Wheels and Challenge4 Set New Guinness World Record for High-Altitude Drive in an All-electric Vehicle23.5.2022 19:37:00 EEST | Press release

Maxion Wheels, the world’s largest wheel manufacturer, and long-distance driver Rainer Zietlow and the Challenge4 team, successfully set a new Guinness World Record for driving to the highest altitude in the all-electric VW ID.4 GTX. Equipped with Maxion’s robust, lightweight and sustainable steel wheels, the team drove to the top of Bolivia’s Uturuncu volcano, 5,816 meters above sea level, breaking the previous record set in 2020 by approx. 45 meters of altitude. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220523005816/en/ New highest altitude by an electric vehicle Guinness World Record is set by Maxion Wheels and Challenge4 with the ascent of a VW ID.4 GTX riding on Maxion steel wheels to the top of Bolivia's Uturuncu volcano. (Photo: Business Wire) Guinness World Records today presented Challenge4 with the official certificate during a press conference at the German Embassy in La Paz, Bolivia. “This world record under

Innovative IoT Modem Card From Thales Makes It Easier to Build a 5G World of Trust23.5.2022 18:15:00 EEST | Press release

Thales announces the new Cinterion® MV32 modem card that makes it quicker and easier for manufacturers to build and maintain resilient, high-performance 5G devices that will transform everyday life in the years ahead. Harnessing the full potential of 5G Mobile Broadband connectivity, the new modem card is designed to be at the heart of a wide array of demanding IoT (Internet of Things) use cases, such as securely connecting enterprises, remote patient care and intelligent monitoring of renewable energy generation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220522005024/en/ Thales 5G IoT (Graphic: Thales) Effortlessly connecting 5G networks and next-gen IoT devices The 5G roll-out will not only bring unprecedented mobile broadband speed to billions of people worldwide. It also offers an extraordinary leap in the sheer number of devices that cellular networks can support. Connectivity will be enabled for billions more mach

Fabasoft Approve is now an autonomous limited liability company23.5.2022 17:05:00 EEST | Press release

Fabasoft Approve, the product for managing technical data and documents launched by software manufacturer Fabasoft and employed successfully in industry since 2019, became an independent company on April 27, 2022. Entrepreneur Andreas Dangl will assume the management of the new digitalization services company. As a defining leader in the Fabasoft Group, Dangl was responsible for the development of Fabasoft Cloud technology and was both the idea generator as well as the principal architect of software products including Fabasoft Approve. He is now pooling his expertise in the corporation based in Linz (Austria) with the express intention of re-imagining the digital world in mechanical and plant engineering and rendering it simpler to navigate. “Fabasoft Approve GmbH provides the perfect framework for meeting the needs of our industrial customers in an even more focused way. We have exciting times ahead of us, in which my team and I, together with our clients, will tap the innovative pot

“PUMA and the Land of Games”: New Virtual Place on Roblox for PUMA Fans to Connect and Compete23.5.2022 17:00:00 EEST | Press release

PUMA in partnership with Wonder Works studio launches a vibrant and immersive sports-based experience on Roblox, a global online platform connecting millions of people through shared experiences. PUMA and the Land of Games experience features Roblox newest Layered Clothing technology, where players can customize their characters with hyperrealistic clothing that fits any avatar body type to wear PUMA from head to toe. As they explore the experience, fans will unlock new zones and additional PUMA sportswear pieces. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220523005611/en/ PUMA in partnership with Wonder Works studio launches a vibrant and immersive sports-based experience on Roblox, a global online platform connecting millions of people through shared experiences. (Photo: Business Wire) “PUMA and the Land of Games” offers the global Roblox community to bring out their inner athlete through sports mini games and training

Fabrice Tocco, Dawex co-CEO, Speaking at the World Economic Forum Annual Meeting in Davos about Data Ecosystems to Respond to Competitiveness and Economic Sovereignty Challenges23.5.2022 16:40:00 EEST | Press release

Dawex, the leading technology company for data exchange, data marketplace and data hub, announced today that co-CEO Fabrice Tocco will be speaking at the World Economic Forum Annual Meeting in Davos, and will share his vision on creating new data exchange ecosystems to respond to environmental and economic challenges. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220523005654/en/ Live Session at Davos (Photo: Dawex) “Strengthening Trust in Public-Private Data Exchanges” Tuesday, May 24 at 13:30 CET Data ecosystems have become a fundamental component of business competitiveness and economic sovereignty. In today’s economy where data has become a product of unlimited potential, with its own value, and a source of new revenue streams, Dawex technology allows organizations to create new ecosystems around data exchange platforms that meet regulatory requirements and address traceability and security challenges. About Dawex In to

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom