Norwegian Property has acquired Snarøyveien 30 at Fornebu from Telenor Real Estate for NOK 5.45 billion. This 198 500 m2 office property is leased to such tenants as Telenor, ABB and Tieto Every. Telenor has signed a 25-year sale and leaseback agreement.

A club deal arranged by Malling & Co Property Partners has purchased Mariboes gate 6-8 in central Oslo from an owner group which includes Blackstone. Covering 6 750 m2, the office property is leased to such tenants as the Rainforest Foundation Norway and Friends of the Earth Norway.

Zuhaar & Rubb has acquired the Telenor building (Ytrebygdsvegen 215) at Kokstad in Bergen from Midgard Gruppen for about NOK 750 million. This 31 800 m2 office building is leased to such tenants as Telenor Norge, Bacher Hughes Norge and Necon.

West Coast Invest has purchased Torgallmenningen 3A in Bergen from Hui Gruppen. The 3 500 m2 property is leased to such tenants as Sands Advokatfirma, China Palace, 7-eleven and Gina Tricot.

Schage Eiendom has awarded new leases covering a total of 20 000 m2 to EY and IWG Spaces at Stortorvet 7 in central Oslo. EY will be moving into the four topmost stories when refurbishment is completed in 2023, and has secured access to the meeting rooms and coworking facilities which Spaces will operate. At the same time, EY employees will have access to many other Spaces locations in Oslo and the rest of the world.

Entra has awarded a 10-year lease for 12 250 m2 to Advokatfirmaet Schjødt at Tordenskiolds gate 12 in Oslo’s central business district. The law firm will be moving into the 13 000 m2 building when refurbishment is completed in the third quarter of 2022.

Statistics Norway: The consumer price index (CPI) rose by 1.6 per cent from September 2019 to September 2020. Over the same period, the consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) was up by 3.3 per cent. From August to September, the CPI rose by 0.4 per cent and the CPI-ATE by 0.2 per cent.

According to Arealstatistikk, the average rent in Oslo in the third quarter of 2020 was NOK 2 210 per m2. This represents a decline of 4.7 per cent from April-June and is the second quarter when data from Arealstatistikk indicate that rents are on their way down. The two-quarterly rolling average is down by 6.2 per cent from the first quarter.

According to the Labour and Welfare Administration (NAV), 99 400 people were registered as wholly unemployed at 30 October. That represented 3.5 per cent of the workforce. Unemployment is now down by 7.4 percentage points from the April peak, but up by 1.2 percentage points from February. It is 6.6 per cent if job seekers on work creation schemes and the partially unemployed are included.

According to Opinion, the consumer confidence index (CCI) was at minus 3.7 points in October, down from minus 2.4 points the month before. It is now 9.6 points above the low point in April.

Profier Gruppen has acquired Neptune Properties from Boligbyggelaget Usbl, Røsnes Eiendom, Strand Eiendom and Surfside Holding. In addition to homes already under development, Neptune has a land bank with the potential for 2 000 residential units in the Oslo region. Overall, Profier will have opportunities to build 5 000 homes in Norway after the transaction.

Fastighets AB Balder has purchased 50 per cent of the shares in Anthon B Nilsen Eiendom. This transaction embraces the group’s property portfolio in Oslo and Lahaugmoen, as well as a 17-hectare development portfolio in eastern Norway. The overall value of the properties is almost NOK 3 billion.

Canica Eiendom has bought Tjuvholmen Allé 1-5 in Oslo from Eiendomsspar. The 15 500 m2 office building is leased to Advokatfirmaet Selmer, Wework, Pangea Property Partners and Bearingpoint. Remaining lease terms are about six years. Vika Project Finance served as adviser for the purchase.

A club deal arranged by Clarksons Platou Real Estate has acquired Karvesvingen 5 at Hasle in Oslo from AF Gruppen and Höegh Eiendom. The 18 000 m2 office building is leased to such tenants as Atea, Talkmore, Com4 and Schindler.

Lerka Eiendom and Union Real Estate Fund II, together with several private investors, have purchased five properties at Tunga in Trondheim for NOK 950 million from club deals arranged by Fearnleys Securities and Clarksons Platou Real Estate as well as a local player. Totalling 43 500 m2, the portfolio is leased to such tenants as Nardo Bil, Melhus Bil Trondheim and Bravida.