OSLO-Private equity firm Madison International, which focuses on acquisitions of minority stakes in class A assets, has done just that with a nine-story office building here for $71 million (US). The firm has picked up a 35% piece of the Statoil complex here.

The 721,000-square-foot asset is fully leased on a long-term basis to Statoil. Closed in the last days of 2012, the acquisition rank as the second largest in Norway for 2012. In a recent interview with Real Estate Forum, Ronald M. Dickerman, president of Madison, explained that the firm is cautious in its approach to European real estate. In the overheated London market, for instance, there’s a serious disconnect between risk and return.

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