Corum Asset Management makes its entry into the Norwegian real estate market

Corum acquires the brand new Elverum Handelspark with a +10 years WALT, centrally located in the most populated residential area in Elverum.

Elverum Handelspark (“EHP”) comprise three buildings, totalling 11 180 sq.m. The property is let on long leases to Rusta, Elkjøp, Power, Byggmakker, Europris and Thansen. Of these tenants, 50% have relocated from an existing retail park west in Elverum, shifting the focal point for retail east of the Glomma river.

On the neighbouring land plots to EHP, extensive residential and social infrastructure developments are, and will be, ongoing for the next decade, effectively extending the natural catchment area significantly. EHP also benefits from great exposure to Trysilvegen, the main road for weekend excursions to popular destinations such as Trysil Mountain Resort.

“We are pleased that we can expand our presence in the Nordic area with our entry into the Norwegian real estate market after having successfully been investing into the Finnish market for a few years. We intend to further expand our investments in the region the coming year”, says Philippe Cervesi, Corum AM, Investment Director.

Akershus Eiendom acted as the sell-side advisor for Skarpsno AS, while Wiersholm acted as legal advisors. Corum appointed Renger Investment Management and DLA Piper as their buy-side advisors.

Skarpsno AS is a property developer primarily focusing on the regional east districts in Norway. Skarpsno develops and manages properties within all segments of commercial real estate, in addition to residential development schemes. Together with co-investors, Skarpsno has built several successful retail, big-box properties and built a good track-record within the segment, attracting many of the biggest retailers as tenants.

Corum AM is a French Investment Company managing approximatively EUR 3 bn, spread in 16 countries in Europe. Corum AM will continue to invest into real estate the coming years within all asset classes, everywhere in Europe, all equity. Renger Investment Management (“RIM”) acted as Corum’s buy-side advisor. RIM is a real estate management, development and investment company that executes real estate investments and strategies in the Nordic region