LONDON—Continuing a run of retail-related acquisitions it has made over the past nine months, Tristan Capital Partners has agreed to acquire a portfolio of five retail parks and four development sites in Norway. The €136-million (US$205 million) purchase from the property arm of retail group Coop Norge is being made through the European Property Investors Special Opportunities 3 fund, advised by London-based Tristan.

Totaling approximately one million square feet, the portfolio includes development potential for about 420,000 square feet of retail warehouse space at four sites across southeastern Norway. The existing retail parks acquired by EPISO 3 are: the Mo Handelspark in Mo i Rana, Hangaren Lade in Trondheim, Breiviksenteret in Ålesund, Grenland Handelspark in Skien and the Tune Handelspark in Sarpsborg.

Tenants occupying the warehouse parks include a mix of discount, furniture, homeware, electronics and sports equipment and apparel retailers. Anchor tenants include brands owned by Coop Norge, Norway's second-largest grocery chain and a leading home improvement retailer.

"This portfolio of well-located and modern retail parks generates an attractive income from a roster of well-established tenants, while offering potential to add value," says Daniel Harris, managing director for investments at Tristan. The fund gains immediate scale in the Norwegian retail warehousing market through this purchase, with scope to make the assets more appealing to prospective institutional owners."

Frankfurt-based Helaba has arranged €111.2 million in financing for the Tristan acquisition, Real Estate Capital said Tuesday. Norwegian life insurance company Storebrand has taken a participation in the deal, according to RE Capital.

Since this past February, when it acquired a neighborhood shopping center in Berlin, Tristan has made a number of retail-related acquisitions across Europe. Along with the Coop Norge portfolio, they have included shopping centers in Italy, France and Northern Ireland, along with mixed-use portfolios comprised partly of retail assets and another quartet of retail warehouse parks, this one in the UK.