CBRE Global Investors has acquired a prime retail, office and hotel asset in Oslo from Norwegian Lights.
The transaction volume for the Karl Johans gate 12 property was not disclosed.
The deal comprises two mixed-use buildings providing 2,200 m2 of high street retail, a 181-bedroom city centre hotel and 2,700 m2 of offices with frontage on Karl Johansgate and Kirkegata.
'Our continued strong outlook for the Oslo real estate market has led us to our third acquisition in the city,' commented Andreas Norberg, managing director of the Nordics at CBRE Global Investors. 'The tenant quality is excellent and we look forward to welcoming Varner and their Nike Brand store as an anchor tenant shortly.'
The hotel component, Comfort Hotel Karl Johan, is managed by Nordic Choice Hotel. It occupies 9,408 m2 and opened in March 2016. The retail occupier Varner will open a Nike store on the premises from mid-2017, the first in Norway.
'We have a significant amount of capital to invest across EMEA on behalf of new and existing clients. We have further appetite for assets in the Nordics, which is a key market for our business, and have a number of opportunities in our near term pipeline,' commented John Mulqueen, head of transactions EMEA, CBRE Global Investors.
CBRE Global Investors purchased the office property HH1 in Oslo last year, and also owns ‘Tatlergården’ the H&M flagship store in Bogstadveien, a prime shopping street in Oslo.
