CapMan Real Estate acquires a centrally located office property in Oslo, Norway
CapMan Real Estate press release
21 December 2022 at 10:15 EET
CapMan Real Estate acquires a centrally located office property in Oslo, Norway
The CapMan Nordic Real Estate III Fund (CMNRE III) has agreed to acquire Sørkedalsveien 6, an office property located in Majorstuen, Oslo city centre from Entra. The property, immediately located in the second largest public transport hub in the area, has altogether 19,300 m2 of space spread over 18 floors above ground and two below. CapMan Real Estate aims to modernise the building focusing amongst other things on improving its energy efficiency and targeting a BREEAM in-use Excellent or Outstanding rating.
Sørkedalsveien 6, is a prime office property located in Majorstuen, Oslo. The iconic property consists of approximately 17,200 m2 office, 1,300 m2 retail and 900 m2 storage space distributed across 18 floors above ground and two underground floors. It also has 70 parking spaces in the basement.
Majorstuen is the second largest public transport hub in the area with around 12 million annual commuters. The nearest subway station and several bus and tramlines are only a two-minute walk away from Sørkedalsveien 6 and a new subway line connecting Majorstuen all the way to Fornebu, a growing residential area, will start running in 2029 and further increase the asset’s connectivity.
Currently, the building is fully let to KPMG and Power Norge AS. The building serves as KPMG’s Norwegian headquarters since its construction in 2001. KPMG are expected to vacate the property at the latest in June 2026.
CapMan Real Estate plans to modernise the office and retail spaces, improving their energy efficiency and overall tenant attractiveness. The property is currently certified BREEAM In-Use Very Good. CapMan Real Estate is targeting a BREEAM in-use Excellent or BREEAM in-use Outstanding rating through its ambitious ESG investment plan.
”We look forward to developing this asset, creating a modern and attractive office space answering future tenants needs. The area is expected to become even more connected going forward and I see excellent potential for this iconic asset,” shares Magnus Berglund, Partner, Head of CapMan Real Estate Sweden and Norway.
The EUR 564 million CapMan Nordic Real Estate III Fund was established in 2020 and invests primarily in office, retail, and residential real estate in the Nordic regions.
CapMan Real Estate currently manages approximately EUR 4.5 billion in real estate assets and the Real Estate Team comprises over 65 real estate professionals located in Helsinki, Stockholm, Copenhagen, Oslo and London.
For more information, please contact:
Magnus Berglund, Partner, Head of CapMan Real Estate Sweden and Norway, magnus.berglund@capman.com, +46 707 866 808
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We have been listed on the Nasdaq Helsinki since 2001. Read more at www.capman.com.