Over the past decades, Nydalen has been through a significant transformation going from an industrial area to one of the most thriving city districts in Oslo. This is the result of large-scale urban planning and development from key players in the area such as Avantor, Norwegian Property and Olav Thon Gruppen. Further, Nydalen have just in a few years grown considerably to around 10,000 inhabitants and is expected to continue the trend as a prioritized area by the Municipality of Oslo.

Torstein Bomann-Larsen and Thomas Fiskerstrand, Associate Directors Transactions at Niam in Norway, comments:

“We are thrilled to acquire this office building. Not only does it have an attractive location, we also see great potential for the property with the possibility to strengthen its environmental profile by reducing the energy consumption and obtaining a greener and more sustainable energy mix.”

Over the past four months, Niam has increased its presence in the Norwegian real estate market with approximately 58,000 sqm in total lettable area. All acquisitions are office properties with a significant share of stable public tenants. 

Niam has worked closely with their operating partner Led Management in this transaction. Morten Roland, Managing Director of Led Management, comments:

“It has been a pleasure to complete this transaction with Niam in Oslo. The property is well positioned in a market that we believe will develop positively in the years to come as well.”