The Tvenge family has acquired two of Oslo's most iconic office properties located at Henrik Ibsens gate 53 and Inkognitogata 34, for a gross property value of NOK 425 mln (€37 mln).
Both properties were sold by Nordea Liv Eiendom, a wholly-owned subsidiary of pension fund Nordea Liv Norge. The purchase was made through the Fram Eiendom companies Titas Eiendom and Fram Realinvest.
The Norske Liv buildings were constructed in 1867 and have over the years been interconnected and upgraded to modern offices of high quality. The properties have a combined area of just over 5,000 m2 and currently serve as the headquarters for the advisory and wealth management company Formue. The properties have a weighted average unexpired lease term (WAULT) of approximately 5.8 years.
'We are very pleased with the purchase of these magnificent properties at Solli plass, an attractive area with great potential and a lot of activity in the heart of Oslo. We already have a strong presence in the area with several properties of similar characteristics, such as Gjensidige-gården and Handelsbygningen,' said Marianne Tvenge, owner and managing director of Fram Realinvest.
Nordea Liv (formerly Norske Liv) has owned the properties for over 110 years and has been a tenant for nearly 90 years. 'As we now choose to sell, we are pleased to pass the baton on to Tvenge, who is a very long-term and experienced property owner that will ensure the preservation of the building's history and the well-being of the tenants,' added Nils Arne Gundersen, head of Real Estate at Nordea Liv.
Colliers brokered the transaction.
