Oslo Areal is an owner and developer of office properties in and around Oslo. The company owns 17 office properties of which 15 are centrally located in Oslo and two in Sandvika just outside Oslo. The property portfolio totals 222,000 sqm of gross lettable area and has a significant development potential with ongoing zoning of up to 95,000 sqm and additional long term development potential of approximately 45,000 sqm. The office portfolio is currently 94.4 % let with a WAULT of 4.7 years. 12 months rolling rent is estimated to be around NOK 464 million. The company has 14 employees.

“Oslo Areal is a perfect strategic fit for Entra, both in terms of portfolio location and its significant inherent development potential. This transaction enables additional profitable growth and increased shareholder values in Entra going forward by utilizing our strong balance sheet,” says Siri Hatlen, Chair of the Board in Entra.

“Oslo Areal holds an attractive office portfolio with a project pipeline which is complimentary to Entra’s existing portfolio. We see Oslo Areal as a smaller version of Entra and the company will significantly strengthen Entra’s market position in Oslo. The transaction will create shareholder and tenant values far beyond regular single-asset transactions, says Sonja Horn, CEO in Entra.  

We are very pleased to have reached an agreement with Entra. We are convinced that this will create further room for Oslo Areal’s strategic development,” says Helge Leiro Baastad, CEO in Gjensidige.