Utleiebolig AS has 840 rental units, of which 430 are already on the market, while 410 are being constructed. In total, the properties cover 44 000 square meters and includes 541 parking spaces. Total property value is about NOK 3 billion (EUR 310 million).
Pangea Property Partners has been the sole advisor in the transaction.
Major Residential Transaction in 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.