28 January, 2019

Acquisition of utleiebolig AS

Pangea Property Partners sole financial adviser in the NOK 3bn deal

Last week, it was announced that Selvaag Gruppen acquired all shares in Utleiebolig AS, buying out eight other shareholders, with the ambition to become the leading owner of new rental apartments in Norway. The company owns 840 rental apartments, of which 410 in production, in greater Oslo, Lørenskog, Jessheim, Drammen and Bergen. The total lettable area is about 44,000 sqm and the portfolio also includes 541 parking spaces. The sales price of approximately NOK 3 billion makes it one of the largest residential transactions ever in Norway.

Pangea Property Partners was sole financial adviser in the transaction. So far, we have advised on about 60 transactions and advisory mandates with an underlying property value above EUR 3.5 billion in 2018/2019.

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17 April, 2019

Pangea Institutional Outlook

Last week, we published our fifth edition of Pangea Institutional Outlook based on an extensive investor survey among the 160 largest institutional investors in the Nordic region. The first report was published in 2011 and the investor sentiment and investment strategies has changed considerably over the years.

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1 April, 2019

Further retail acquisitions

Fastator acquires five centrally located retail properties in Bollnäs, Ludvika and Sala for SEK 220 million. The properties have a lettable area of approximately 24,300 sqm, excluding parking, and the current occupancy rate is 89 percent. The largest tenant is the Swedish Tax Agency accounting for 11 percent of total rental income.

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25 March, 2019

Hotel transaction in Borlänge

Västerkulla has acquired the property Einar 10 in central Borlänge from NP3 Fastigheter. The property was built in 1985 and has a lettable area of about 6,800 sqm comprising 100 hotel rooms, relax and conference facilities, restaurant and bar. The tenant is Best Western Hotel Gustav Wasa on a long lease agreement.

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11 March, 2019

Another Oslo CBD transaction

Tristan Capital Partners, through its European Property Investors Special Opportunities Fund (EPISO 3) has sold the prime office and retail property Grensen 5-7 in Oslo CBD. The property has a lettable area of approximately 14,000 sqm and is located just 150 metres from Oslo’s main shopping street Karl Johans gate.

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