Meyer Bergman has bought an 11 property retail portfolio in Oslo for 5.3bn kroner (£402m).
The portfolio was bought from a Norwegian company which is 65% owned by Søylen Eiendom on behalf of its latest fund, Meyer Bergman European Retail Partners III.
The assets are based in Oslo’s shopping district, on Karl Johnas Gaste, and include the Steen & Strøm and Eger Karl Johan department stores. Its tenants include Hermès, Gucci, Bottega Veneta, and Georg Jensen.
Meyer Bergman seeded its now-closed second fund in 2012 by forward-funding Bradford’s Broadway shopping centre development in Northern England, which opened last month.
The fund capped its equity-raising in the third quarter of 2014 at €750 million, which is now fully committed. The portfolio includes buildings on Bond Street, Piccadilly and Queensway in London, a prime retail investment on the Champs-Elysees in Paris and two Karstadt department stores in Berlin.
Meyer Bergman was advised by Akershus Eiendom, Arctic Securities, BA-HR, BER, and PwC on the Oslo portfolio purchase.
