4 February, 2019

New Norwegian parking company

Pangea adviser when Bane NOR Eiendom and Eiendomsspar teaming up

In mid-January, it was announced that Bane NOR Eiendom and Eiendomspar establishes a new 50/50 joint venture acquiring two large and centrally located parking facilitates in Oslo and Asker. The sellers are several private owners, including Bane NOR Eiendom which until now has owned 25 percent of the company Oslo S Parkering AS. The two parking properties are located in direct connection to Oslo Central Station and suburban station Asker and comprise a total of 1,165 parking places. The gross rental income is about NOK 50 million and the properties have a combined gross asset value of approximately NOK 1 billion.

Pangea Property Partners was adviser in the transaction including the financing arrangement. So far, we have advised on about 60 transactions and advisory mandates with an underlying property value above EUR 3.5 billion since the beginning of 2018, including a number of sizeable transactions in January 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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