"The property is centrally located just between Ensjø and Helsfyr, an exciting development area in Oslo. We signed a 25-year lease with Ulna Preschools in 2012 and after eight years of ownership it was natural for us to sell the property," says Knut Holte, Managing Partner of SPG.

The buyer is the Union Core Real Estate Fund.

"We are extremely pleased that the transaction has been completed with a professional and long-term property owner," concludes Holte.

Akershus Eiendom was the seller's adviser in the process.

Scandinavian Property Group is a real estate company that was founded in 2004 and operates in the Scandinavian market. The organization consists of 20 employees with offices in both Oslo and Stockholm.

SPG is an industrial player in three specific areas; residential, community service properties, and project development of offices and retail.

Since 2004, SPG has carried out real estate transactions for more than SEK 60 billion (app. EUR 5.6 billion).