ACTA'S REAL ESTATE COMPANIES MAKE INVESTMENTS OF NOK 4 BILLION
Global Eiendom Utbetaling 2007 AS and Global Fastighet Utbetalning 2007 AB
- Purchase five business parks in Finland at 1 billion kroner
- Purchase retirement homes in Bad Kissingen at 330 million kroner
- Purchase residential units in Chemnitz at 320 million kroner
- Purchase office building in Denver at 665 million kroner
- Purchase small shopping centre in Hudiksvall at 70 million kroner
Global Eiendom Vekst 2007 AS and Global Fastighet Tilväxt 2007 AB
- Purchase office tower construction project in Atlanta estimated at 940 million kroner
- Purchase part of construction project in Lillestrøm estimated at 460 million kroner
- Purchase office building in Denver estimated at 245 million kroner
The companies Global Eiendom Utbetaling 2007 AS (GEU), Global Fastighet Utbetalning 2007 AB (GFU), Global Eiendom Vekst 2007 AS (GEV) and Global Fastighet Tilväxt 2007 AB (GFT) - owned by Acta's clients - have signed agreements to purchase eight unique commercial and residential real estate portfolios. The total value of the transactions for Acta's clients is approximately 4 billion kroner.
- It is important to Acta to find attractive property investments which contribute to a diversified portfolio with an attractive risk/return relationship for our clients. These transactions prove that we have been successful in our strategy, says Investment director Geir Inge Solberg in Acta.
In Finland GEU and GFU purchase a portfolio comprising of five modern office buildings totalling 36 000 square meters. The properties are located in established office locations in Helsinki, Vantaa, Tampere and Oulu. Approximately 84 percent is office areas, and the tenants are among others NCC, Intrum Justitia, Perlos and Eniro.
In Germany, GEU and GFU have signed transactions in Bad Kissingen and in Chemnitz. In Bad Kissingen, the object is a property with 348 units retirement homes totaling 18 000 square meters. In Chemnitz, GEU and GFU purchase 953 apartments with a rentable area of 57 000 square meters.
In Denver, GEU and GFU have signed an agreement to purchase a 32 storey office building in 633 17th Street with 51 000 square meters and a large parking garage in addition to a parking lot. The building has approximately 40 percent public tenants. GEU and GFU have an 80 percent ownership in a joint venture with Grant Eiendom.
GEU and GFU have also signed an agreement to acquire a small shopping centre in Hudiksvall, Sweden. The property totals approximately 5 500 square meters.
In Atlanta, GEV and GFT have agreed to purchase an office construction project in a 50 percent joint venture with Tishman Speyer/Lehman Brothers. The project is a 25 storey office tower with 46 000 square meters.
Together with local partners, GEV and GFT are purchasing a construction project in Lillestrøm in Norway. GEV' and GFT's ownership is approximately 74 percent. The project, Romerike Helsebygg, is a project targeting health related activities totaling 26 000 square meters.
Further, GEV and GFT have agreed to purchase another 28 storey office building in Denver, 621 17th Street with 39 000 square meters in addition to a large parking garage. The project is a turn around project with approximately 20% vacancy and is adjacent the property to be acquired by GEU and GFU. This project will be owned 80 percent in a joint venture with Grant Eiendom.
GEU, GFU, GEV and GFT are organized as limited holding companies that issue shares to investors. The holding company owns the properties via other real estate companies. New properties and investors are taken into the portfolio through share issues in the limited holding company. Thus investors will take part in the build up of a broadly diversified portfolio of properties.
Stavanger, 7th August 2007
Contact information: Investment director Geir Inge Solberg, +47 908 78 043
Acta Holding ASA
CFO Christian Tunge