Norwegian investor Entra has inked a deal to acquire Skanska's 50% share in a recently completed Oslo office for NOK 795 mln (€83 mln), becoming sole owner of the asset.
The property, dubbed Sundtkvartalet, was developed by Skanska Commercial Development and Entra and delivered in December 2016.
Comprising 31,300 m2, it is 92% let to high quality tenants, including Skanska, IBM, Manpower and KnowIT, with an average remaining lease term of 8 years.
'We have a very positive outlook on the area around the Central Station in Oslo, and we are pleased to become the single owner of this high quality, flexible and environmentally friendly property,' said Arve Regland, Entra's CEO.
The deal is based on a total property value of NOK 1,590 mln (€167 mln).
Closing is expected to take place on 30 September 2017.
