Bane NOR Property, Norway's state-owned developer and manager of railway property, has established a joint venture with Norwegian property company Eiendomsspar to invest in the parking facilities at Oslo Central Station and suburban station Asker.
Bane NOR and Eiendomsspar will each own a 50% stake in a new company that has purchased all the shares in Oslo S Parkering. The two properties, comprising 1,165 parking spaces, have a gross value of around NOK 1 bn (€100 mln) with gross rental income estimated at nearly NOK 50 mln in 2019.
Pangea Property Partners arranged the transaction and assisted with financing.
