NPRO Makes Hasle Acquisition

Norway Norway Norwegian Property has entered into an agreement to purchase 'Vinslottet' (former facilities of “Vinmonopolet”) at Hasle in Oslo. Sellers are Profier AS and Hasle Utvikling AS which is owned by Höegh Eiendom AS,


Share via e-mail

Once the ongoing refurbishment is finalized, the property will consist of 8 810 sqm gross area with restaurants, service, wellness and shopping in the ground floor, and 47 underground parking lots. On top of the commercial areas there are 223 apartments under construction, of which the majority of the units are already sold.

NPRO will purchase all shares in Hasle Linje Bygg 01 AS, including 100% of the shares in Hasle Linje Bygg 01 Næring AS. The deal is structured as a forward transaction. The agreed purchase amount for the shares is MNOK 222. It is calculated based on an agreed value for the commercial areas after completion of MNOK 308.5, and sales price for the 223 apartments of approximately MNOK 1 230. Takeover is estimated to take place on 21 December 2018.

Construction of commercial areas is expected to be completed during Q4-2019, while the construction of the apartments will be finished in Q4-2019 and Q2-2020. The property is located centrally at Hasle, close to residential area, new offices and hotels, and in short distance from the subway.

CEO, Bent Oustad, comments: “The acquisition is in line with NPRO’s ambitions to apply the proceeds from the divestments in Stavanger to grow in our core areas. During several years at Aker Brygge, our company has built a high competence in running properties with a mix of retail, offices and apartments. We will exploit this knowledge further at Hasle. We also consider the whole Hasle area as interesting for investments, with many new office properties, hotels and residential buildings. Additionally, we particularly like this building, its infrastructure and architecture.”

Kristen Rikter-Svendsen from Profier AS comments: "Vinslottet at Hasle needs an owner with a long-term perspective and who understands how to run and develop historical buildings with a mix of apartments and commercial activities under the same roof. NPRO will hence be a perfect owner for the property while it is under development."

Axel Ohlsson

Obos’ CEO on the Declined Offer in Sweden

Norway Norway The Norwegian housing company Obos announced earlier this year that they will purchase Swedish SBC. This week Obos' offer was declined. CEO Daniel Kjørberg Siraj tells Nordic Property News about the disappointment and how they are moving forward.

These Norwegian Companies Send Most Delegates to Mipim

Norway Norway Nordic Property News presents the complete list of registered participants from Norwegian companies that will arrive to Mipim in Cannes next week.

Tristan Capital Partners on the Challenges with Entering Norway

Norway Norway Anne-Jan Jager, Director at Tristan Capital Partners: “A new foreign investor trying to enter the Norwegian core market is currently faced with several challenges.”

Selvaag Acquires in Oslo

Norway Norway Selvaag Eiendom buys Dronningens gate 13 in Kvadraturen in Oslo from Ragde Eiendom.

Why Norway Is Attractive for Clarksons

Norway Norway Pål Sandal at Clarksons Platou Real Estate, tells Nordic Property News about the large acquisition and why Norway is the most attractive Nordic market.

Tristan Makes Major Oslo Divestment

Norway Norway Tristan Capital Partners’ European Property Investors Special Opportunities Fund (EPISO 3) has sold a mixed-use retail/office building in central Oslo for MNOK 900 (EUR 92M) to a syndicate of investors structured by Clarksons Platou Real Estate.

This Is What Nordea Liv Aims for

Norway Norway Nordea Liv's Investment Director on the latest deal and where they look for the next acquisition.

Why Foreign Investors Turned Down the Oslo Deal

Norway Norway Last week, Genesta sold an attractive property in central Oslo. But Linn Idsø Brenne, Partner at the analysis company Pangea Property Partners, would have liked to see a foreign buyer. For Nordic Property News she explains why.

Genesta Divests in Oslo

Norway Norway Genesta divests its holding in the CBD office property Dronning Mauds gate 15 on behalf of Genesta Nordic Real Estate Fund II (GNRE Fund II) to Carnegie Norway who has acquired the property on behalf of Nordea Liv.

NCC Leases 16,000 sqm and Launches New Office Project

Norway Norway The Norwegian agency UDI has signed a ten-year lease for approximately 16,000 square meters in NCC’s Valle View office project at Helsfyr in the Oslo region.