Acta Holding ASA - Real estate update
Acta has since 1999 syndicated a significant number of real estate projects in Norway and Sweden. In order to reduce dependency on single markets and to secure Actas client a flow of good projects over time, has Acta in 2nd half of this year worked to complete the first project in Germany.
The company Boligutleie Holding 3 AS, owned by Actas clients, have yesterday, on November 29 2005, signed a contract to purchase a portfolio of residential apartments in Germany for 1,1 billion Norwegian kroner. The seller and the location of the portfolio can currently, due to confidentiality reasons, not be disclosed.
Reference is also made to stock exchange announcement from Aker ASA on November 3 2005, where Aker has entered into an agreement to sell all shares in the real etstate company that owns the property where the company will build its new head office at Fornebu outside Oslo to Næringsbygg Holding 2 AS, a company owned by Acta`s clients for 1,4 billion Norwegian kroner. The agreement was dependent on satisfactory financing. The financing is now resolved and the transaction has been completed as planned.
Acta is in real estate syndication projects entitled to a fee up to 6% of the transaction value, given that the mandate agreed with the client on total project economics and annual direct yield is met. Parts of the fees will cover transaction costs.
Stavanger, November 30 2005
Contact person Acta