NPRO – BUYS SECTIONS IN FONDBYGGET, AKER BRYGGE

Norwegian Property has entered into an agreement to buy sections in Fondbygget from Watrium AS. The sections have a central location on Aker Brygge and comprise approximately 3,200 square meters, mainly retail space on the ground floor and some storage sections in the basement. The expected annual gross rental income in 2017 is close to NOK 9 million. The closing of the transaction will take place in September 2016, and the agreed purchase price is NOK 204 million net of compensation for the tax position.

Aker Brygge is among the most attractive office, shopping and residential areas in Oslo. The company has during the last few years extensively upgraded and modernized Aker Brygge, and the acquisition of these sections will further strengthen Norwegian Property’s presence. Norwegian Property now owns all commercial sections in the joint ownership Fondbygget.

For additional information, please contact:  

Norwegian Property ASA

Svein Hov Skjelle, Chief Executive Officer,

phone +47 930 55 566

Email: shs@npro.no

Norwegian Property is a focused and fully integrated office property company with 32 properties located in the Oslo area and Stavanger in Norway. The portfolio, which has a total fair value of NOK 14.2 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.

www.npro.no

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