AGREEMENT TO SELL MARIDALSVEIEN 323, NYDALEN, OSLO
Norwegian Property ASA ("NPRO") has entered into an agreement to sell Maridalsveien 323 located in Nydalen in Oslo. The buyer is a company established by Ness, Risan & Partners. Agreed property value in the transaction is NOK 344.7 million. The transaction will be completed in the beginning of September in the form of sale of the property owning company with market adjustment for form of ownership. Agreed value is in line with the book value from the second quarter 2014.
The property is located in the northern part of Nydalen in Oslo. The office bulding totals 19 700 square meters, of which offices comprise 11 600 square meters and the rest is related to retail and parking space. The building was built in 2001. The property has no vacancy and annual run rate for rent was NOK 23.8 million at the end of second quarter 2014.
The sale is in line with Norwegian Property’s strategy of active portfolio development.
Akershus Eiendom has acted as advisor to the seller in the transaction.
This information is subject of the disclosure requirements according to §5-12 of the Norwegian Securities Trading Act ('Verdipapirhandelloven').
For additional information, please contact:
Olav Line, CEO Norwegian Property, phone +47 482 54 149
Svein Hov Skjelle, EVP & CFO Norwegian Property, tel +47 930 55 566
Norwegian Property is a focused and fully integrated office property company with 40 properties located in the Oslo area and Stavanger in Norway. The portfolio, which has a total fair value of NOK 15.1 billion, is characterized by central location and attractive premises high quality tenants. The group’s properties consist largely of office premises, associated warehousing and car parking, as well as retail and catering space. The company has identified four value drivers for long-term value creation; Marketing & letting, Property management, Property development and Transactions & finance.
Norwegian Property is listed on Oslo Stock Exchange with the ticker NPRO.