January 8, 2025

Debt financing of Borgard AS (Servicegrossisten Øst)

Pareto Alternative Investments, on behalf of Pareto Eiendomskreditt and Pareto Real Estate Credit Fund, is pleased to announce the NOK 311m debt financing of Drammensveien 185 located at Liertoppen in Lier municipality, strategically located next to E18 at the west-axis south of Oslo.

Drammensveien 185 is a modern logistics building completed in 2017 and is fully leased to Servicegrossisten Øst AS on a long contract. The building functions as the HQ for the tenant, which operates in the B2B-grocery market delivering food to municipalities, hospitals, restaurants, etc., in the Greater Oslo area. The tenant is deemed to be solid, and is co-owned and member of Servicegrossistene AS - Norway's largest food-wholesaler after ASKO. The property has an energy character of A (storage) and B (office), as well as a BREEAM In-Use classification of "Good". The building includes freezing-, cooling- and normal storage areas with 10m clear height, with docks on both sides of the building.

Located at Liertoppen along the E18 and the western corridor from Oslo towards Drammen, the building has a strategic location with a catchment area of approximately 2 million people within an hour's distance of driving.

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