Slate Asset Management (“Slate”), a global investor and manager focused on essential real estate and infrastructure assets, and One Investment Management (“OneIM”), a global alternative investment manager, today announced they have agreed to acquire a portfolio of eight grocery-anchored retail parks in Norway from Tellus Eiendom AS. The portfolio is located in the Greater Oslo region and is anchored by Norway’s leading grocery operators and discount retailers.

“We are pleased to be expanding our European Essential real estate platform with this significant acquisition,” said Brady Welch, Co-Founding Partner of Slate Asset Management. “These eight retail parks sit in dominant locations along major transport corridors around Oslo. The portfolio is anchored by Norway’s strongest grocery operators and benefits from CPI-linked lease structures, designed to provide durable, inflation-protected cash flows. We look forward to applying our active management to unlock the portfolio’s full potential through value-add enhancements.”

“We have built and developed this portfolio over many years and are pleased to entrust it to Slate Asset Management. The buyers are well positioned to manage and further develop the properties, and we thank them for their constructive cooperation throughout the sale process,” said Per Øivind Dahl, CEO Tellus Eiendom AS.

The portfolio is dominated by essential tenants serving non-discretionary, everyday needs, including Coop, NorgesGruppen, and Reitan Retail, three of Norway’s largest and most established grocery operators. Tenant sales have grown consistently across the portfolio, demonstrating the historical resilience of necessity-driven demand through a range of macroeconomic conditions, including periods of elevated inflation and rising interest rates.

This acquisition builds on Slate and OneIM’s existing partnership and follows their investments in a portfolio of five grocery-anchored retail properties in Greater Copenhagen, as well as a portfolio of four essential real estate properties in Germany.

This acquisition, which is subject to customary closing conditions, further scales Slate’s growing Nordic platform and adds to its pan-European essential value add real estate strategy. Slate has been an active investor in European real estate since 2016, transacting on more than 1,000 commercial properties across nine countries.

Slate Asset Management has been advised by Schjødt, ABG Sundal Collier, Crowe and Veridian.

About Slate Asset Management

Slate Asset Management is a global investor and manager focused on essential real estate and infrastructure assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners across the real assets space. 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, and follow Slate Asset Management on LinkedIn, X (Twitter), and Instagram.

About OneIM

OneIM is a global alternative investment manager that invests across the capital structure, in a range of asset classes, industries and geographies. The firm applies a flexible investment approach and focuses on creating long-term value by working with exceptional partners and management teams. OneIM is sector agnostic and focuses on situations where it can leverage its cross-asset class expertise and capital base to achieve differentiated risk-adjusted returns. The firm was founded in 2022 and currently manages over $12 billion in assets. With a team of over 70 professionals, the firm operates from offices in Abu Dhabi, London, Tokyo and New York. Please find more information at: https://www.oneimgroup.com/

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