AXA IM Alts acquires Oslo logistics assets for €125m

[Image: Teodor Tomter]

Axa IM Alts has acquired two logistics properties in Oslo. The assets were purchased from property owner and developer Fabritius Gruppen and the deal was worth €125 million.

The two assets were completed in 2019 and 2023 and total 83,000 sq m ad 23,000 sq m respectively. They have strong environmental credentials, including the use of renewable energy sources and PV solar panels.

Located in the Moss Næringspark business park, a logistics cluster in South Oslo, the assets are occupied by Europris, Norway’s largest discount retailer and JAS Worldwide, an international freight forwarding and third party logistics firm.

With this acquisition, Axa IM Alt’s European direct equity logistics platform exceeds €5 billion, spread across 4.3 million sq m in 11 different countries.

Head of Nordic asset management and transactions at Axa IM Alts said: “Demand for flexible and modern warehouse space with excellent transport links has been unaffected by wider macroeconomic volatility, driven by the growth of commerce, multi-channel retail and global business-to-business distribution.”