Listed company Norwegian Property has agreed to sell an office building in Oslo to privately owned investment services firm Ness, Risan & Partners for NOK 345 mln (€42 mln).
Listed company Norwegian Property has agreed to sell an office building in Oslo to privately owned investment services firm Ness, Risan & Partners for NOK 345 mln (€42 mln).
The property at Maridalsveien 323 is located in the northern part of Nydalen, a traditional industrial area of the Norwegian capital which is undergoing regeneration.
The agreed price is in line with the book value at end-June 2014. The transaction is scheduled for completion at the beginning of September.
Maridalsveien 323 was built in 2001 and comprises 11,600 m2 of office space and 6,100 m2 of retail and parking space. The property has no vacancy and the annual run rate for rent was NOK 23.8 mln at the end of the second quarter of 2014.
The sale is in line with Norwegian Property’s strategy of active portfolio development.
Akershus Eiendom acted as adviser to the seller on the transaction.
Oslo-listed Norwegian Property is an office property company with 40 properties located in the Oslo area and Stavanger in Norway. The portfolio has a total fair value of €1.8 bn.
