19 March, 2017

Sale of two Plantagen properties

At end of February, it was announced that Industrifinans sells two retail properties in Sweden to Sveavalvet. One property is located in Stora Birk retail park in Umeå and the other one next to Hemlingby shopping centre in Gävle. Both properties are let to Plantagen on long leases. Pangea Property Partners was sell-side adviser in the transaction.

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3 March, 2017

Sale of prime hotel property in Oslo

Today it was announced that Norwegian Lights AS sells two adjacent properties along Karl Johan/Kirkegate in central Oslo. The properties being extensively refurbished in 2013-2015 have a lettable area of approximately 14,300 sqm, of which the main part comprises Comfort Hotel Karl Johan. The buyer is CBRE Global Investors on behalf of their Pan-European Core Fund.

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7 February, 2017

Nordic real estate still trending positive, but sellers starting to cash in 2017

The Nordic property markets will continue to perform well, according to the new report Real Estate Outlook 2017 produced by Pangea Property Partners. In particular, segments with strong rental growth such as central offices in Stockholm and Oslo, as well as quality hotels, are pinpointed as winners, while yields will tilt upwards for secondary assets. Transaction activity is expected to remain high.

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Major hotel deal in Copenhagen

The existing Hilton hotel at Copenhagen Airport will be taken over by Nordic Choice and branded as a Clarion Hotel. The well-established high-end hotel has 382 rooms and will undergo an extensive upgrade. In addition, a brand new 500-room Comfort hotel with 3,000 sqm of modern conference facilities will be built alongside the existing hotel. The construction cost is estimated to DKK 800m and the hotel and conference centre is scheduled to be ready for use in 2020.

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