Aurora Eiendom, the Scandinavian property company busy assembling a large retail portfolio in Norway, has acquired Gulskogen mall, Arkaden, and a 25% stake in Maxi shopping centre from Steen & Strøm, majority owned by Klépierre and APG.

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Dolphin Eiendom, Utstillingsplassen Eiendom and Rica Eiendom are buyers of the remaining 75% of Maxi, making the total transaction value NOK2.9 bn (€280 mln).

Pangea has acted as joint manager in the NOK530-650 mln private placement and financial advisor for Aurora Eiendom.

After these purchases, Aurora will fully own eight shopping centers in Norway with a total gross asset value of more than NOK8.8 bn. The eight centers have a total gross lettable area close to 200,000 m2 and an annual footfall of 18.3 mln.

The three transactions are just the latest in a conveyor belt of retail acquisitions since setting up in 2021. 

In February, the company bought a centre from Citycon.