Major Swap Between Entra and Aberdeen

Norway Norway Entra and Aberdeen Eiendomsfond Norge I have entered into a property swap transaction where Entra will buy the property St. Olavs plass 5 in Oslo for MNOK 850 (EUR 87M) and sell the properties Tollbugata 1, Pilestredet 19-21 and Pilestredet 28 to Aberdeen for NOK 1.1 billion (EUR 113M).


Share via e-mail

St. Olavs plass 5 is a 16,530 sqm property which is currently fully let to the Oslo University, Faculty of Law ("UiO"). The tenant will in December 2019 move to a new-build project in Tullinkvartalet which is under development by Entra. As part of UiO signing the 25-year lease contract in Tullinkvartalet, Entra took over the rental obligation towards Aberdeen for the Faculty of Law's remaining 6 years lease contract in St. Olavs plass 5, which will now be eliminated.

This transaction is strategically important as it adds a significant property to Entra's property cluster around the Tullin quarter. Through the development of the new Faculty of Law in Kristian Augusts gate 15, 17 and 21, the new office building in Universitetsgata 7-9, the forthcoming refurbishment of Universitetsgata 2 and other assets in the area, Entra will contribute to a significant urban development in this part of Oslo city centre. St. Olavs plass 5 is an exciting property with a significant potential to contribute to this development.

Closing will take place in two tranches: The sale of Pilestredet 28 is expected to close on 4 January 2019. The sale of Tollbugata 1 and Pilestredet 19-21 and the acquisition of St. Olavs plass 5 will close in the fourth quarter of 2019, when the refurbishment project in Tollbugata 1 is finalised.

Axel Ohlsson

Major Residential Transaction in Norway

Norway Norway Selvaag Gruppen acquires all of the company Utleiebolig AS for NOK 3 billion (EUR 310M), buying out eight other shareholders, with the ambition is to become Norway’s leading owner of modern residential rental units.

Why the Norwegian Housing Giant Takes on Additional Land in Sweden

Norway Norway Norwegian housing company Obos acquires Swedish SBC. Communications Director Åge Pettersen explains why.

Bulk Sells Logistics to Pareto

Norway Norway Bulk sells large logistics project at Nebbenes to Pareto Eiendomsfellesskap II AS.

Bane NOR Property and Eiendomsspar Investing EUR 100M in Parking

Norway Norway Bane NOR Eiendom and Eiendomsspar establishes a joint venture that takes over the parking facilities at Oslo Central Station, Oslo’s main railway station, and a suburban station at Asker just outside Oslo.

Martin Mæland on the JV with Ilija Batljan: ”Not an Easy Thing”

Norway Norway The Norwegian building and real estate profile Martin Mæland about the cooperation with Ilija Batljan, the differences over decades and why Kristiansand is an interesting area.

"High Activity in Many Cities"

Norway Norway Pangea's CEO Bård Bjølgerud on the real estate year in Norway, why the divestments from international owners are increasing and the place you will most likely see a transaction rise in 2019.

SBB forms JV with Martin Mæland

Norway Norway SBB and Obos' former CEO Martin Mæland are starting a cooperation. SBB sells a development property in central Kristiansand to a new JV company created by SBB and Mæland, for MNOK 200 (EUR 20M).

“We’re Continuing to Explore Opportunities”

Norway Norway The global giant Madison made a huge investment in Oslo’s record project. Head of Investment Matthias Cordier describes Madison’s take on the Norwegian market and where else in the Nordic region they can make acquisitions.

Pareto Purchases Logistics Portfolio

Norway Norway Pareto Eiendomsfellesskap (“PEF”) acquired a portfolio of logistics properties in the greater Oslo region.

Why the Norwegian Owners Sell to Global Giant

Norway Norway American Madison is investing in Norway's largest urban development project of all time. The Norwegian company's CEO comments on why they could not resist the American bid, future transactions, and how many were fighting for the historical project.