The well-profiled office building designed by Niels Torp is one of the largest buildings on Tjuvholmen, and today houses approx. 750 employees. The building is fully let to four attractive tenants in the law firm Selmer, WeWork, Pangea Property Partners and Bearingpoint. Selmer is the largest tenant with 61% of the building.
The transaction also includes 20 indoor parking spaces. The restaurants and the art gallery on the ground floor are not included in the transaction.
Eiendomsspar states in a stock exchange announcement that the sale entails an increase in value of approx. NOK 18 per share, compared with Eiendomsspar's valuation of the property as of 31.12.2019.
"It is sad to sell one of the absolutely most beautiful properties in our portfolio. However, we are very pleased that a solid and long-term player such as Canica will be the new owner. Eiendomsspar bought the building in 2011 and it has been a fantastic building to own and work with, through these years. Vika Project Finance / Canica quickly came on the scene after we entered the market with the property and has acted very efficiently, professionally and decisively. In the end, we agreed on a bid acceptance before we were presented with the prospectus in the market," says Christian Ringnes, CEO of Eiendomsspar.
Due diligence will start immediately, and takeover is planned during November 2020. Pangea Property Partners has been the financial advisor for Eiendomsspar.