Asset Buyout Partners acquires two properties

Asset Buyout Partners has recently announced two new additions to its property portfolio.

The first property is located in Dusavik outside Stavanger, and the tenant is GE Oil & Gas. The facility includes 38 000 sqm plot and 14 600 sqm of buildings, consisting of administrative offices, workshops for maintenance of subsea equipment, and storage.  GE has been the sole tenant of the property since it was developed in 1983. Following the planned combination of GE Oil & Gas with Baker Hughes, the company will be the second largest oil and gas service company globally.

The second property is located in Åsane outside Bergen and the tenant is MRC Global. The property comprises a plot of 13 000 sqm and buildings of 10 500 sqm, consisting of offices, storage and workshops.  MRC Global is the largest global international distributor of pipes, valves, fittings, and related products and services to the energy industry, and the valves division of MRC Global Norway is a market leader in the field of valves and related services in the Norwegian market.

Asset Buyout Partners is an industrial real estate investor seeking properties located in Norwegian oil and gas clusters on long term contracts to oil and gas counterparties. The company focuses on off-market and privately negotiated transactions, and will explore opportunities to structure transactions and lease contracts in ways not always open for traditional real estate investors.