New York-listed REIT WP Carey has bought the headquarters of Siemens in Oslo for NOK 544 mln (€65 mln), marking its first step into the Norwegian market.

New York-listed REIT WP Carey has bought the headquarters of Siemens in Oslo for NOK 544 mln (€65 mln), marking its first step into the Norwegian market.

The US firm is buying the site from original developer Oslo Business Park. Siemens, which has had its Norway HQ at the site for more than 40 years, has 12 years remaining on the current lease.

The current building, finished in December 2013, covers 15,300 m2 and is rated the most energy-efficient office in the country with a LEED Gold rating.

‘Together with Oslo Business Park, we have developed a building for the future,’ said Per Otto Dyb, CEO of Siemens Norway. ‘We are proud of the result.’

‘The acquisition of Siemens’ Norwegian headquarters is well-aligned with our strategy of acquiring high quality, critical assets with strong covenants in key commercial locations,’ said Arvi Luoma, director of WP Carey. The firm now has a presence in 21 countries.