Slate Accelerates Growth in Europe with NOK 1.5 Billion Portfolio Acquisition of 36 Essential Real Estate Assets in Norway
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.
Slate Asset Management
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
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
Import Prohibition in Europe as Result of Search and Seizure by French Court17.5.2022 02:00:00 CEST | Press release
Seoul Viosys (“SVC”) (KOSDAQ: 092190), a subsidiary of Seoul Semiconductor Co., Ltd., has won a patent litigation against a European home appliance distributor that infringed its Violeds technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220516005048/en/ Violeds technology applied to air purification solutions (Graphic: Business Wire) In February 2022, Seoul Viosys filed patent litigation against FTHMM International B.V., a Netherlands trading company, in The Hague District Court of the Netherlands, seeking a preliminary injunction against the sales of infringing UV LED products. The asserted patent relates to Violeds technology that can effectively disinfect water, air space, and surfaces by using ultraviolet lights. According to the cease and desist declaration approved by the court, FTHMM acknowledged infringing Seoul Viosys’ patent and will be required to cease all sales of infringing UV LED products and destroy
Conviva Announces Streaming Audience Measurement Standard Leveraging Comprehensive, Continuous, Census-level Technology16.5.2022 20:21:00 CEST | Press release
Conviva, the Continuous Measurement Analytics platform for streaming media, today announces it will unveil a streaming audience measurement standard to be released for general availability at CES 2023. This expansion is in partnership with premium streaming providers using Conviva’s real-time cloud sessionization technology. The new standard provides census-level streaming audience ad packaging and measurement that is complimentary and interoperable with linear TV allowing streaming providers to compete at scale with the digital walled gardens solutions competing for ad budgets today. Conviva’s platform currently processes nearly 3 trillion streaming data events daily, supporting more than 500 million unique viewers watching 200 billion streams per year across 4 billion applications streaming on devices. “Audience measurement represents the streaming industry’s biggest opportunity and Conviva’s technology definitively unlocks its potential,” comments Keith Zubchevich, CEO of Conviva. “
Verimatrix Anti-Piracy and Threat Defense Experts To Highlight Latest Innovations at CABSAT and TT CS16.5.2022 17:45:00 CEST | Press release
Regulatory News: Verimatrix, (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced participation in two leading conferences this month: European Medical Device and Diagnostic Software Development and Compliance Conference (TT CS) – May 17-18 – Brussels, Belgium TT CS is Europe’s only dedicated conference for medtech cybersecurity professionals. Held at the Sheraton Brussels Airport Hotel, the event features two Verimatrix speakers. Nicole Lua, sales director, is scheduled to serve as moderator for a “Security By Design” roundtable at 1:35 p.m. on May 17. Neal Michie, director of product management, is scheduled to discuss the prevention of threats associated with unmanaged and quasi-managed devices during a session slated for 10:15-10:50 a.m. on May 18. CABSAT – May 17-19 – Dubai, UAE CABSAT is the most established and respected trade platform for broadcast, satellite, entertainment content & digital media sectors across
“Our Future is Light” Campaign Kicks off 2022 International Day of Light16.5.2022 17:03:00 CEST | Press release
An action-packed video styled as a blockbuster-movie trailer provides the linchpin for this year’s International Day of Light (IDL) campaign, “Our future is light. Play your part.” Released today, Day of Light features diverse characters successfully solving global-level problems using photonics-enabled technologies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220516005150/en/ Sponsored by SPIE, Optica, and IEEE Photonics Society, this year’s International Day of Light celebration showcases exciting, critical career opportunities in optics and photonics. (Graphic: Business Wire) Three professional societies – SPIE, the international society for optics and photonics, IEEE Photonics Society, and Optica, Advancing Optics & Photonics Worldwide – partnered to create the video and the accompanying 2022 IDL campaign. “Our future is light. Play your part” promotes the importance of light-based technologies and interesting careers
NielsenIQ Launches Retail Media Solution to Monetize Assets and Measure ROI for Retailers16.5.2022 16:01:00 CEST | Press release
Today, NielsenIQ, a global information services company, announced the launch of NielsenIQ Activate; a software-as-a-service (SaaS) solution that enables retailers to accelerate revenue opportunities through retail media and comprehensive customer insights that activate shoppers with personalized promotional offers. NielsenIQ Activate is comprised of dedicated applications for hyper-targeted audience building, offer and ads management, and end-to-end measurement. This SaaS tool, part of the NielsenIQ Connect platform, will allow retailers to create sustainable revenues by monetizing their retail media assets across physical and digital channels. Additionally, retailers will be able to boost credibility with brands and inform them of the insights they need to command their customers’ attention, act on those insights, and measure the ROI of their activities across all channels. “We are devoted to continuing our legacy by defining the next century of consumer and retail measurement,” says