Slate Asset Management, a global alternative investment firm, has recently completed the acquisition of the World Seafood Center located in Gardermoen, Norway. The purchase, valued at approximately NOK 1.3 billion (around $121.5 million), underscores Slate’s commitment to expanding its presence in European essential real estate.
The World Seafood Center, spanning an impressive 55,000 square meters, serves as a critical infrastructure within Norway’s thriving seafood industry, which stands as the country’s second-largest export sector. Positioned strategically within the Oslo Airport City (OAC), a prominent logistics hub, the facility enjoys direct access to major transportation networks connecting Europe, Asia, and America.
Notably, the World Seafood Center is poised to become the world’s largest cold storage facility dedicated to seafood, according to OAC projections. This achievement highlights the significance of the facility in meeting the growing demand for high-quality Norwegian seafood across global markets.
Equipped with state-of-the-art technology, including robotics and artificial intelligence, the center operates entirely on renewable energy sources. These advanced capabilities enhance operational efficiency, ensuring seamless handling and distribution of seafood products to consumers worldwide.
Sven Vollenbruch, Managing Director at Slate, expressed enthusiasm about the acquisition, stating, “We are pleased to be increasing our exposure to European essential real estate with the acquisition of this premier cold storage and distribution facility. The World Seafood Center has established itself as a critical part of the food supply chain globally, providing consumers across Europe, America, and Asia with access to high-quality Norwegian seafood.”
Furthermore, Vollenbruch emphasized Slate’s commitment to collaborating with key tenants at the World Seafood Center to further enhance its quality, efficiency, and resilience. By leveraging sustainable practices and innovative technologies, Slate aims to solidify the facility’s position as a leading seafood export hub for years to come.
The transaction is set to conclude by the end of this month, marking a significant milestone in Slate’s strategic expansion initiatives within the European real estate market.