Nov 5, 2019Whitehelm Capital (on behalf of several Australian pension funds) and Whitehelm European Infrastructure Fund II have jointly acquired a portfolio comprising 166 day care nurseries and eight health centres in Scandinavia from Pioneer Property Group. One hundred and twenty of the nurseries are located in Norway, with 14 years remaining on their leases. Rental income for the Norwegian part of the portfolio comes to about NOK 240 million.
Nov 5, 2019UNION Core Plus has acquired Pilestredet 35 in central Oslo from a Pareto club deal. This 27 000 m2 property is primarily leased to OsloMet.
Nov 5, 2019An Arctic Securities club deal has acquired Fyrstikkalléen 3 at Helsfyr in Oslo from JB Ugland, Otterlei Group and Vedal Investor. The 11 500 m2 office building is leased to tenants such as the City of Oslo’s education agency, Norengros and Økonomibistand with a remaining term of 8.6 years.
Nov 5, 2019Estate nyheter: Aberdeen Standard Balanced Property Fund has acquired Munkedamsveien 59B adjacent to Aker Brygge from Arne Vannebo for NOK 108 million. This 1 980 m2 office building is leased to tenants such as Rådgiverhuset Rekruttering, Fursetgruppen and Thevit. Rental income last year was about NOK 3 million.
Nov 5, 2019Finansavisen: Asset Buyout Partners has bought six properties in Risavika, Dusavika, Stord and Hammerfest. These purchases were implemented as three transactions with various counterparties: a Pareto club deal, Gefro Invest and LCN Master Holdings 1. The properties have a combined area of 31 200 m2 and five hectares of land. Tenants include Schlumberger, Scantech and Advantec.
Nov 5, 2019Finansavisen: Møller Eiendom and Stokke Industri are to build a further 32 000 m2 of warehouse space for Coop at Vilbergveien 130 in Gardermoen. This logistics property will provide a total of 84 000 m2 when the extension is completed in late 2020.
Nov 5, 2019Eiendom Norge: House prices in Norway declined by 0.8 per cent in October. Corrected for seasonal variations, they were unchanged. They are now 2.4 per cent higher than a year ago. Prices in Oslo fell by 0.8 per cent and are now 3.8 per cent higher than a year ago but 2.7 per cent below the peak reached in February 2017.
Nov 5, 2019Statistics Norway: The consumer price index (CPI) rose by 1.5 per cent from September 2018 to September 2019. The consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) increased by 2.2 per cent over the same period.
Nov 5, 2019Arealstatistikk: The average level of rent in signed leases in Oslo was NOK 2 220 /m2 during the third quarter of 2019. That represented a 7.9 per cent decline from the previous quarter. The four-quarterly rolling average was up by 0.2 per cent from the second quarter, and by 5.2 per cent from the same period of last year.
Nov 5, 2019Norges Bank resolved on 24 October to keep its base rate at 1.50 per cent. No new reasons were advanced for taking this decision, and the central bank will most probably keep its base rate at today’s level for a good while to come.
Sep 4, 2019An Arctic Securities club deal has acquired Kongsberg Teknologipark (Kirkegårdsveien 45) from H.I.G Capital, Blackstone and Oslo Pensjonsforsikring for a total of NOK 3.1 billion. This 175 000 m2 portfolio has a rental income of about NOK 250 million and is leased to 50 companies.
Sep 4, 2019UNION Real Estate Fund II has acquired the Valle Wood and Valle View office buildings at Helsfyr from NCC Property Development. Valle Wood covers 7 700 m2 and is currently being completed, while Valle View will be 23 000 m2 and have the Norwegian Directorate of Immigration (UDI) as its largest tenant when it is completed in 2021. The transaction also includes a development site with planning permission for 27 000 m2 of offices and a parking facility with space for 220 cars. Pareto Securities has arranged the transaction, which totals NOK 1.83 billion.
Sep 4, 2019Ragde Eiendom has acquired four retail properties and two sites from Tristan Capital for about NOK 1.55 billion. The 100 000 m2 retail portfolio is located in Arendal, Ålesund, Sarpsborg and Grenland, and leased to such tenants as Tesla, Coop, Power, XXL and Biltema with an average lease duration of eight years. The sites are located at Tangerud in Oslo and in Grenland.
Sep 4, 2019A NRP Finans club deal has acquired the Jærhagen shopping centre (Solavegen 25) in Klepp local authority from Coop Klepp and Dolphin Eiendom for about NOK 1 billion. This 57 000 m2 property has a rental income of NOK 65 million and is leased to such tenants as Coop, Power, Elkjøp, Sport Outlet and Møller Bil.
Sep 4, 2019A DNB Markets club deal has acquired Vinkelgården (Kirkeveien 59) at Majorstuen in Oslo from Nordea Liv for NOK 375 million. This 2 135 m2 property is leased to DNB Bank.
UNION Market Report Autumn 2019UNION's head of research Robert Nystad gives a brief overview of the Norwegian commercial property market as of October 2019.
Back to the grindstoneUNION launches autumn's market report on the Norwegian commercial property market.
Market Report Spring 2019UNION's Head of research Robert Nystad gives a brief overview of the Norwegian commercial property market as of April 2019.
Preparing for a soft landingRobert Nystad, Head of research UNION Gruppen
Market Report Autumn 2018UNION's Head of research Robert Nystad gives a brief overview of the Norwegian commercial property market as of October 2018.
It’s the supply side, stupidGyms, restaurants and retailers managed it. Providers of flexible office space – or coworking – are also pretty certain to succeed in building more than enough capacity.
Market Report Spring 2018UNION's head of research Jo W Gullhaugen gives a brief overview of the Norwegian commercial property market as of March 2018.
Market Report Autumn 2017UNION's Head of Research Jo W. Gullhaugen gives a brief overview of the Norwegian commercial real estate market as of October 2017.
Market Report Fall 2016Towards full capacity in the Oslo rental market?
Prime yield of 3.9 percent – how is secondary property affected?
UNION's Head of Research Jo W. Gullhaugen gives a brief overview of the Norwegian commercial real estate market as of October 2016.
Strong return for Norwegian real estate in 2015The IPD Norway Property Index returned 11 percent in 2015, of which income return contributed 5.3 percent. The index measures unlevered total returns to directly held properties.
Market Report in 5 minutesWhat are the vacancy rates, rent levels and prime yield in the Norwegian commercial real estate market? Read about new construction, valuation estimates and market trends across four major commercial real estate sectors and Norway's four largest ci ties. UNION's Head of Research Jo W. Gullhaugen gives a brief overview of the Norwegian commercial real estate market as of March 2016.
Pension Funds’ investment in commercial propertyThere is growing interest in Norwegian commercial property among Norwegian and international pension companies. The transaction market has never been stronger. How will current and future frameworks affect pension funds’ investment in property?
Office Market in Balance?Since 2002, housing prices in Oslo have increased by 133 percent, while the value of office buildings has risen by 50 percent. The office rental market appears to be accommodating Oslo’s new residents much more effectively than the housing market.
Psychological Drivers Behind the Choice of Office PremisesWhen renting office space, the most important factors influencing the choice of premises are often price and functionality. However, there are also some psychological factors behind the assessment of office premises.
Can Bjørvika Challenge the CBD in Oslo?Bjørvika is growing slowly but surely into a new major office hub in the area around Oslo Central Station. Many attractive tenants have moved in beside established and future cultural institutions such as the Oslo Opera House, Munch Museum and Oslo Public Library. Is Bjørvika in the process of becoming a genuine challenger to the CBD as Norway’s most attractive office area?
Snapshot of Oslo’s Commercial Real Estate MarketUNION is one of Norway's most trusted sources for property and market intelligence. Watch our 3 minutes long video presentation of Oslo’s Commercial Real Estate Market.
5 Reasons to Look to NorwayDespite the falling oil prices and decrease in office rents, the commercial real estate transaction market has been booming this year. Foreign investment into Norwegian real estate has been increasing rapidly in 2015, counting 50 percent of the total market volume. What key features attract foreign investors?
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