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UNION

Research

  • Nov 5, 2019

    Whitehelm 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, 2019

    UNION 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, 2019

    An 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, 2019

    Estate 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, 2019

    Finansavisen: 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, 2019

    Finansavisen: 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, 2019

    Eiendom 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, 2019

    Statistics 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, 2019

    Arealstatistikk: 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, 2019

    Norges 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, 2019

    An 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, 2019

    UNION 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, 2019

    Ragde 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, 2019

    A 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, 2019

    A 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.

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