We create value from property
UNION is one of Norway’s leading experts on commercial property, and creates value for owners, clients and society in a responsible manner. The services we offer relate to asset management, commercial property agency and research.
Key figures from M2 Research portal
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PRIME YIELD
4,00%
SECONDARY YIELD
5,50%
VACANCY
5,50%
TRANSACTION VOLUME
80,5 bn
Monthly
Oct 4, 2021
NREP Income+ has acquired Quality River Station (Doktor Hansteins gate 7) in Drammen from Bane NOR Eiendom for NOK 485 million. This 13 000 m2 hotel is leased to Nordic Choice Hotels for a 13-year term.
Oct 1, 2021
NREP Income+ has acquired Quality River Station (Doktor Hansteins gate 7) in Drammen from Bane NOR Eiendom for NOK 485 million. This 13 000 m2 hotel is leased to Nordic Choice Hotels for a 13-year term.
Oct 1, 2021
Estate news: Anthon B Nilsen has purchased Øvre Vollgate 11 from the Cooperative Housing Federation of Norway (NBBL). Tenants of this office property include NBBL, the Norwegian Breast Cancer Association, the Norwegian Association for Children with Congenital Heart Disease and the Norwegian Union of Librarians. Annual rental income for the 4 000 m2 property is about NOK 6.3 million.
Oct 1, 2021
Nordea Liv has paid a club deal arranged by Njord Securities NOK 485 million for Bavariakvartalet (Fabrikkveien 36, 38 and 41) in Stavanger. The 22 000 m2 retail property is leased to Bavaria Stavanger AS and Porsche Center AS. Rental income in 2020 was about NOK 27 million.
Oct 1, 2021
Pareto Eiendomsfelleskap has purchased Delitoppen 3 in Vestby from Fonc Holding. Covering 16 000 m2, this logistics building is leased to tenants such as Sunrise Medical AS, Rajapack AS, Abena Hygiene AS and Cosentino Norway AS. Rental income for 2020 was NOK 16.7 million.
Oct 1, 2021
Australia’s Macquarie Asset Management has acquired Heiaveien 8 in Fetsund for NOK 690 million. Bohus has secured a sale and leaseback agreement for this 31 000 m2 logistics building. The lease term is 15 years.
Oct 1, 2021
Ne.no: Bulk Industrial Real Estate has awarded a lease to Lettbutikk AS for 17 000 m2 in Bulk Park Enebakk. Lettbutikk will move in when this warehouse building is completed in the spring of 2022.
Oct 1, 2021
Ne.no: Storebrand and Aspelin Ramm have awarded a lease to NREP at VIA in Oslo (Ruseløkkveien 26). This 41 500 m2 office building is now fully leased.
Oct 1, 2021
Ne.no: Bulk Industrial Real Estate has awarded a lease to DSV Solutions for 39 000 m2 in Bulk Park Vestby. DSV Solutions will move in when this new logistics building is completed in the autumn of 2022.
Oct 1, 2021
As expected, Norges Bank raised its base rate to 0.25 per cent at the interest-rate meeting on 23 September. The central bank indicated at the same time that it expects the next rate rise to be in December 2021.
Oct 1, 2021
UNION: The average bank margin for new five-year loans with 65 per cent loan-to-value is 209 basis points – down five points since the second quarter.
Oct 1, 2021
Statistics Norway: The consumer price index (CPI) rose by 3.4 per cent from August 2020 to August 2021. Over the same period, the consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) was up by one per cent.
May 11, 2021
Balder Fastigheter is acquiring Asset Buyout Partners from Hitecvision. ABP owns 106 industrial properties in important areas for Norwegian oil and gas activities. The portfolio totals 264 000 m² with an asset value of NOK 9 billion.
May 11, 2021
Aspelin Ramm has acquired 50 per cent of the Spektrumkvarteret development project at Sonja Henies Plass 2 in central Oslo from Norges Varemesse. The companies will jointly renovate and expand Oslo Spektrum. This new cultural and congress arena will amount to 18 000 m² and include a new auditorium with a capacity of 3 000 people. An office building accommodating 1 000 workplaces is also planned on the same site.
May 11, 2021
Ferd Eiendom has acquired several parcels of land on the south side of Blindernveien at Marienlyst from the Norwegian State Church Endowment Fund (OVF). Totalling one hectare, these land parcels will be included in the housing development on the NRK site.
UNION news
UNION and Baard Schumann establish residential development fund
UNION is launching a residential development fund with Baard Schumann, a Norwegian specialist in this field. The partners will establish a management company with Schumann as Managing Director, and the fund will focus on development projects in and around Scandinavia’s largest cities.Strengthening research expertise in UNION
Two talented young people have been appointed to strengthen research expertise in our organisation. Kristoffer Myrvold Fagerbakk will work in our research department, while Fredrick Maaseide is joining our transaction team.Trainees 2022-23
It is a great pleasure to welcome Sverre Albech and Kaviya Elaiyarajah as our new trainees in UNION.New CEO for UNION Gruppen
The board of UNION Gruppen has appointed Endre Folge as the company’s new CEO. He succeeds Øystein A Landvik, who remains chair and a partner. Folge is taking office with immediate effect.ESG report 2021
Our ESG report for 2021 is ready.UNION launches new and unifying identity
As part of a strategic process, we are launching our new visual identity today.Norwegian market for commercial property, spring 2022
Rents have begun rising in the office rental market, and the supply side is tightening. At the same time, uncertainty has increased on many fronts, and yields are more vulnerable than they have been for a long time. What's next?
Vacant premises
Meet our employees
We are fifty property specialists who are committed and trustworthy, and think creatively in order to make a valuable contribution to the market we are part of.
