The project has been developed by Birk & Co and is a Futurebuilt project with a building permit applied for and a permitted number of BRA 13,200. FutureBuilt aims to realize model projects in and around Oslo with reduced greenhouse gas emissions from transport, energy use and material use of at least 50 percent. Birk & co participates in the project with the remaining 50 percent.

The agreement is subject to due diligence procedures. The transaction is expected to be completed in November 2020.