NPRO - Agreement on sale of Stavanger property
Badehusgata 33-39 Holding AS, owner of the property Badehusgata 33-39 in Stavanger, was sold today to a SPV established by Malling & Co Project Finance AS. NPRO owned 50% of the company together with Camar Eiendom (35%) and Agera Eiendomspartner (15%). Gross property value was agreed at NOK 430 million. CEO, Bent Oustad, comments: “The sale is in line with Norwegian Property’s strategy to focus the company's capital to areas where we have synergies, our own crew on the ground or see other comparative advantages to our competitors. By carrying out this transaction, we continue to