NPRO: Agreement on acquisition of property in Oslo inner city

Norwegian Property has bought the “Felix” property at Aker Brygge. The property is located on the lower floors of Fondbygget building, and has entrance from the ground floor at Bryggetorget. After the purchase, NPRO owns all the business units in the building.

NPRO has become owner of all the shares in Bryggetorget Invest AS, which owns 100% of the shares in the real estate company, Bryggetorget 3 AS. The premises amount to approximately 5,400 sqm and are currently rented out as a conference center. The agreed gross value for the property was MNOK 172. Closing took place in Q2 2021.

CEO, Bent Oustad, says in a comment:

"We are very pleased with the purchase of Felix. This is the seventh acquisition at Aker Brygge since I joined NPRO in 2018. Previous acquisitions have contributed to value creation for the company, and we will also achieve this with this building. The acquisition is in line with our ambitions to grow in our core areas and thereby utilize the synergies with larger real estate in the same area ».

Legal advisers have been Thommessen for Bryggetorget Invest AS and Arntzen de Besche Advokatfirma for Norwegian Property. For further information, please contact:

Bent Oustad, CEO
Phone +47 48016082

Email: bo@npro.no

or

Haavard Rønning, CFO
Phone +47 400 200 19
E-mail: hr@npro.no

Norwegian Property is a focused and fully integrated office property company with properties located mainly in the Oslo area in Norway. The portfolio is characterized by central location and attractive premises with 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