Hemfosa Fastigheter, a Stockholm-listed real estate investor backed by pension funds, has made its first foray into Norway with the acquisition of six community service properties in the Oslo region for SEK 1.5 bn (€159 mln).
Hemfosa Fastigheter, a Stockholm-listed real estate investor backed by pension funds, has made its first foray into Norway with the acquisition of six community service properties in the Oslo region for SEK 1.5 bn (€159 mln).
The properties provide a total of 63,000 m2 and are located in the municipalities of Skedsmo, Moss and Fredrikstad in the eastern Oslo region and have an underlying property value of SEK 1.475 bn. They are entirely let to government institutions including public schools, judicial institutions and the police authority with an average remaining lease term of 9.7 years.
The seller is state-controlled holding group Entra.
'Our assessment is that Hemfosa has excellent potential to expand its business to Norway. The acquisition from Entra is a very good platform for further growth. During 2015, we intend to assess the possibility of additional acquisitions in Norway with which to supplement our portfolio of community service properties,' commented Hemfosa’s CEO Jens Engwall.
In another cross-border deal in the Nordics, Swedish listed property group Castellum announced on Thursday that it has acquired a property portfolio including an 11,500 m2 building in central Stockholm and three office and warehouse properties in Copenhagen for a total of SEK 762 mln.
