Norwegian office property investor Entra has inked a deal to purchase a commercial building in central Oslo for NOK 115 mln (€13 mln).
The property, Kristian Augusts gate 13, comprises around 3,300 m2 and is let on short contracts.
Located in the Tullin quarter, the asset is adjacent to the properties which Entra will demolish to develop a new faculty of law building for Oslo University (21,000 m2) and a new office building in Universitetsgata 7-9 (19-21,000 m2).
Entra said that the purchase of Kristian Augusts gate 13 would facilitate a more comprehensive development of the Tullin quarter and that the property had development potential.
The deal is expected to close in the first quarter of 2017.
