Norwegian Property has reached agreement on the sale of the Kokstadveien 23 office property in Bergen, Norway's second-largest city, for about NOK 231 mln (EUR 29 mln). The buyer is Aberdeen Pan-Nordic Norway.
Norwegian Property has reached agreement on the sale of the Kokstadveien 23 office property in Bergen, Norway's second-largest city, for about NOK 231 mln (EUR 29 mln). The buyer is Aberdeen Pan-Nordic Norway.
In a statement, Norwegian Property said that the sale is in line with the company's strategy to develop its portfolio and dispose of non-core properties. Kokstadveien 23 was Norwegian Property's only property in Bergen, it added.
The real estate firm said it will realise a gain of NOK 9 mln before tax from the sale, which will be booked in the fourth quarter. The transaction is expected to be completed by end-2007.
