Norwegian investment bank Arctic Securities has acquired a major office building in Oslo from Tristan Capital Partners for €210m.
The 25,500sqm Telegrafen building was sold by Tristan Capital’s EPISO 4 opportunity fund after completing a renovation project.
Tristan Capital said it was one of the largest single real estate transactions in Norway.
The historic Telegrafen Building was acquired in 2016 by the EPISO 4 fund with co-investment from the Malling and Vedal families.
Following the acquisiton, the building underwent extensive renovation work to create modern grade-A office space in central Oslo, with food and beverage offerings on the ground floor.
In 2020, the refurbishment of Telegrafen was awarded the ‘Very Good’ BREEAM rating.
Halvor Sand, associate director at Tristan Capital, said: “When we acquired the asset with our joint-venture partners, Malling and Vedal, our plan was to reposition this iconic building as a dynamic work and leisure destination in the heart of Oslo.
“Today, Kongens Gate 21 celebrates its cultural and historic importance by showcasing its existing buildings within a modern, multi-use venue with great sustainability credentials.”