Real estate company Cibus has acquired a property portfolio consisting of 12 grocery stores in Norway, with an underlying property value of NOK 471.2 million, equivalent to SEK 445 million. This was announced in a press release.
The properties are located in Northern Norway, with nine of them operating as Rema 1000 stores. The remaining three include a Kiwi store, a Spar store, and a Bunnpris store. The average remaining lease term for the stores is 7.7 years.
The transaction is structured as a share deal. Nine of the properties will be transferred on October 15, while the remaining three will be transferred on December 15. The seller is AKA.
“The fact that we are now also expanding in Norway, one of our smallest geographic markets, in my view demonstrates our ability to identify and realize income-generating opportunities across all our markets,” says Christian Fredrixon, CEO of Cibus.