Coop Norge divests the Smalvollveien 65 property, encompassing 30,650 sqm on Alnabru, Oslo.

Buyer is W.P. Carey Inc, a global net lease REIT specializing in corporate sale-leaseback, build-to-suit construction financing in a joint venture with Oslo-based developer, Winta Eiendom AS.

In addition to a large retail building with tenants such as Coop Obs, Coop Bygg, Expert and Lampehuset, there is a Uno-X gas station and 342 parking lots on the property.

“Coop Norge has had a too large share of the capital invested in properties and this divestment is a strategic choice for Coop Norge” says Roy Meyer, CEO at Coop Norge Eiendom.

DTZ Realkapital was sales adviser to Coop Norge.

- This deal is a financial transaction combined with an excellent development potential of 150,000 sqm. The buyer composition we have created with a strong and experienced American financial investor and a local Norwegian development oriented co-investor is quite unique and was essential in this transaction, says Peer Christensen, CEO, DTZ Realkapital AS.