Bane NOR Property and Eiendomsspar Investing EUR 100M in Parking

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.

2019-01-17

Bane NOR Eiendom and Eiendomsspar will own half each of a new company, which acquire all shares of Oslo S Parkering AS which, owns the parking facilities at Oslo Central Station and Asker station. The sellers are several private owners, including Bane NOR Eiendom which until now has owned 25 per cent of Oslo S Parkering AS.

In total, the two properties comprise 1,165 parking spaces. The properties have a gross value of approx. NOK 1 billion (approximately EUR 100 million). Gross rental income is estimated at nearly NOK 50 million (EUR 5 million) in 2019.

Pangea Property Partners has arranged the transaction and has assisted with financing.

Axel Ohlsson

[email protected]