Macquarie Asset Management acquires state-of-the-art logistics facility in Norway

Macquarie Asset Management, on behalf of its European logistics real estate strategy, has acquired a state-of-the-art logistics facility in Norway for NOK 690 million (around €67 million).

Heiaveien 8 is a 31,000m² prime warehouse and distribution centre strategically located approximately 25 minutes away from Oslo in the Heia Business Park. Opened on 1 June 2021, the newly developed four-storey facility is equipped with the most advanced autonomous fulfilment technology system of its kind in Norway and is 100 per cent leased for the next 15 years to Bohus, the country’s largest furniture retailer.

Dana Gibson, Co-Head of Macquarie Asset Management’s Real Estate team in Europe, said: “Europe’s supply chains are constantly evolving and have been further accelerated by the COVID-19 pandemic which is expected to have long-lasting effects on e-commerce. This changing landscape supports our strong conviction for the region’s logistics real estate sector, with modern and strategically located facilities such as Heiaveien 8 needed to help leading retailers like Bohus meet the varying needs of their customers.”

Macquarie Asset Management and its specialist platforms have been investing in the European logistics real estate sector for 15 years and manage over €1 billion, with a one million metre squared portfolio comprised of 56 properties in Finland, France, the Netherlands, Norway, Poland, Slovakia, Sweden, and the United Kingdom. This includes the PLP platform, which is developing and managing 23 prime logistics real estate properties across the United Kingdom.

Together with its specialist platforms, Macquarie Asset Management has invested €6.9 billion in the logistics real estate sector globally on behalf of investors over the past 10 years. Logistics real estate is a core part of Macquarie Asset Management’s real estate strategy and is expected to grow significantly through the continued evolution of third-party logistics, globalisation, near shoring and e-commerce.