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UNION Monthly – archive searches

We have digitalised and made accessible our whole archive of reports from UNION Monthly. All items are categorised by geographical location and segment, and you can easily choose between transactions, the rental market and macro topics.

UNION Monthly is the regular newsletter we send our international clients, and summarises all relevant property and macro stories in a concise form. If you are not a subscriber already, you can sign up here.

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  • Nov 8, 2020

    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.
    • Transaction
    • Oslo
    • Fornebu
    • Office
  • Nov 8, 2020

    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.
    • Transaction
    • Oslo
    • City centre
    • Office
  • Nov 8, 2020

    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.
    • Transaction
    • Bergen
    • Office
  • Nov 8, 2020

    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.
    • Transaction
    • Bergen
    • Office
  • Nov 8, 2020

    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.
    • Rental market
    • Oslo
    • City centre
    • Office
  • Nov 8, 2020

    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.
    • Rental market
    • Oslo
    • CBD
    • Office
  • Nov 8, 2020

    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.
    • Macro
  • Nov 8, 2020

    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.
    • Macro
    • Office
  • Nov 8, 2020

    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.
    • Macro
  • Nov 8, 2020

    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.
    • Macro
  • Oct 1, 2020

    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.
    • Transaction
    • Residential
  • Oct 1, 2020

    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.
    • Transaction
  • Oct 1, 2020

    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.
    • Transaction
    • Oslo
    • CBD
    • Office
  • Oct 1, 2020

    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.
    • Transaction
    • Oslo
    • Økern-Hasle-Løren-Ulven
    • Office
  • Oct 1, 2020

    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.
    • Transaction
    • Trondheim
    • Retail
    • Other
  • Oct 1, 2020

    UNION’s bank survey for the third quarter of 2020 reveals an average bank margin of 232 basis points (bps) for new five-year loans to finance centrally located office properties in Oslo at 65 per cent loan to value. That is down by 16 bps from the previous quarter, but up by 28 bps from a year ago.
    • Macro
    • Oslo
    • Office
  • Oct 1, 2020

    Norges Bank decided to keep its base rate unchanged at zero per cent at the interest-rate meeting on Thursday 24 September. The interest-rate projection has only been marginally adjusted, and the central bank still expects to maintain its base rate at the present level until the end of 2022.
    • Macro
  • Oct 1, 2020

    Statistics Norway: Gross domestic product for mainland Norway grew by 1.1 per cent from June to July, and is now 4.7 per cent lower than in February.
    • Macro
  • Oct 1, 2020

    Statistics Norway: The consumer price index (CPI) rose by 1.7 per cent from August 2019 to August 2020. Over the same period, the consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) was up by 3.7 per cent. Both the CPI and the CPI-ATE declined by 0.4 per cent from July to August 2020.
    • Macro
  • Oct 1, 2020

    Eiendom Norge: House prices in Norway rose by 1.1 per cent in August. Corrected for seasonal variations, they were up by 0.3 per cent. Seasonally adjusted house prices are now 4.2 per cent higher than a year ago. Prices in Oslo rose by 1.6 per cent in August and are 6.1 per cent up from the same month in 2019. The nominal house price in Oslo is now higher than at any previous time.
    • Macro
    • Residential
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