Group CEO Alfred Ydstebø i Base says there has been interest from several quarters ever since the zoning plan was adopted in August 2020, an interest that has increased as the building has risen. Now was the time.

"It has been important for us to complete the project before we considered a sale or partnership. With the agreement that is now being entered into, we have the opportunity to do so – in Storebrand we have found an owner who is concerned with urban development, who stands for long-termism and security for tenants, visitors and the public in general. It means a lot to us," says Ydstebø.


For a period in the future, Base will take care of the operation of K8, continue to be a contact point for the surroundings, and ensure that the outdoor area with the new park is completed.

"This means that the transition to a new owner will be seamless and characterized by continuity," says Ydstebø.


Ydstebø says it has been a large, complex and demanding project, where the level of ambition in terms of environmental standards and energy efficiency was set at the highest level from day one.

"A great responsibility has rested on our shoulders, but fortunately we had a large majority of visionary politicians behind us. It was absolutely crucial for us to start the project at all. And along the way, many people have cheered us," he says.


Ydstebø says he is very proud to have gained the trust of large and solid tenants. He also highlights the roof terrace on the 16th floor, which is open to the public, as well as the renowned restaurants that have been established together with the city's newest conference hall.

"The top floor has become an attraction for residents and visitors alike," he says.


He makes no secret of the fact that the project has been demanding for Base, but also for contractors, suppliers and others involved.

"There have been many good forces that have worked together, here I would like to mention the municipal administration. The result has exceeded all expectations, we have achieved what we wanted both in terms of content and architecture. The last piece, the new park, is also coming in place during the autumn. Many can look forward to that," says Ydstebø.


Portfolio manager Linn Idsø Brenne at Storebrand Livsforsikring says they have followed the project from an early phase.

"We are impressed by Base's ability to implement such a complex project as K8. We are therefore very happy to have succeeded in purchasing the building on behalf of our clients in the life company. We are convinced that the region will continue to develop strongly and that the investment will provide a good return for our customers," she says.


Brenne says Nord-Jæren is a very exciting region, where Storebrand is already well present as the owner of Kvadrat. They are now looking forward to expanding their portfolio with Stavanger's new main hall.

"Our investment philosophy is founded on the green shift, in K8 we get an ecologically, socially and economically sustainable building. Becoming the owner of a building that will be certified as Breeam Excellent, and perhaps Outstanding, as well as Well Platinum, is a big feather in the hat for us," says Brenne.


The sales adviser in the transaction has been Colliers. Legal adviser for the seller was CMS Kluge, while Thommessen was legal adviser for the buyer.