The property has a leasable area of 23,900 sqm and contains 28 shops. The transaction is based off of a property value of EUR 24M and is expected to be complete in early June.
“Heiane Storsenter is a good local center and therefore, I am happy that we made a deal with a local property developer. The divestment is a natural step in streamlining our property portfolio in Norway,” says André Gaden, Commercial Director at Citycon.
Pangea Property Partners has been the seller’s advisor.
Citycon Sells Shopping Center
Norway — Citycon has entered an agreement regarding the divestment of Heiane Storsenter on Stord, to Drotningsvik Eiendom.