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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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  • 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.

    • Transaction
    • Other
    • Other
  • 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.

    • Transaction
    • Oslo
    • City centre
    • Office
    • Other
  • 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. 

    • Transaction
    • Oslo
    • Outer West
    • Residential
  • May 11, 2021

    A club deal arranged by NRP has acquired Ljosheimvegen 1 at Sola in Stavanger from a club deal arranged by DNB Markets. This 9 955 m² logistics property is leased to Hitec Products and Fluid Control Service.

    • Transaction
    • Stavanger
    • Logistics
  • May 11, 2021

    KLP Eiendom has renegotiated two new leases totalling 31 358 m² with Gjensidige and Vy at Schweigaards gate 21 and 23 in Bjørvika. These companies have previously leased one building apiece, but Vy is now reducing its space. For its part, Gjensidige is expanding and taking over the top three stories in Schweigaards gate 23 from Vy. The leases run for 10 years.

    • Rental market
    • Oslo
    • Bjørvika
    • Office
  • May 11, 2021

    Oslo was characterised by strict infection controls and shutdowns during the first quarter. However, the activity in the office rental market was normal with a gross absorption of 160 000 m2 and stable rents. Read more here.

    • Macro
    • Oslo
    • Office
  • May 11, 2021

    Statistics Norway: The consumer price index (CPI) rose by three per cent from April 2020 to April 2021. Over the same period, the consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) was up by two per cent.

    • Macro
  • Apr 6, 2021

    A club deal arranged by Clarksons Platou Real Estate has acquired Strandveien 4-8 and 10 at Lysaker from Oslo Areal. Covering a total of 18 900 m2, these office properties are leased to such tenants as Lundin Petroleum and Pearl Norge.

    • Transaction
    • Oslo
    • Lysaker
    • Office
  • Apr 6, 2021

    A club deal arranged by Malling & Co Project Finance has acquired two properties at Ryensvingen 1 and 3 in Oslo from a club deal arranged by Vika Project Finance. Covering a total of 12 200 m2, these properties are leased to such tenants as Sportshuset Outlet, Kiwi and Haga & Berg Entreprenør.

    • Transaction
    • Oslo
    • Økern-Hasle-Løren-Ulven
    • Retail
  • Apr 6, 2021

    A club deal arranged by Arctic Securities has acquired two properties on the same site at Hamarvegen 112 in Elverum for a total of NOK 1.14 billion. Terningen Arena was acquired from Balder Fastigheter. The project also includes the 4 300 m2 property leased to the Inland Norway University of Applied Sciences, which has been purchased from Utstillingsplassen Eiendom.

    • Transaction
    • Other
    • Other
    • Health/education
  • Apr 6, 2021

    A club deal arranged by Pareto Securities has acquired Krona (Hasbergsvei 36) in Kongsberg from the Norwegian Pharmacy Association. This 24 000 m2 property is leased to such tenants as Kongsberg local authority and the University of South-Eastern Norway.

    • Transaction
    • Other
    • Office
  • Apr 6, 2021

    HIG Capital and Hamilton Hotel Partners have acquired Hotel Ullensvang (Ullensvangvegen 865) in Hardanger from the Utne family. This 15 600 m2 hotel has 170 rooms and has been owned and operated by the Utne family since 1846.

    • Transaction
    • Other
    • Hotel
  • Apr 6, 2021

    Norges Bank decided to keep its base rate unchanged at zero per cent in the interest-rate meeting on Thursday 18 March. However, the central bank has upwardly adjusted its interest-rate projection. This now indicates a first interest-rate increase in the second half of 2021, compared with the earlier forecast of the first half of 2022.

    • Macro
  • Apr 6, 2021

    Statistics Norway: The consumer price index (CPI) rose by 3.3 per cent from February 2020 to February 2021. Over the same period, the consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) was up by 2.7 per cent. From January to February 2021, the CPI rose by 0.7 per cent and the CPI-ATE by 0.4 per cent.

    • Macro
  • Apr 6, 2021

    MSCI: The total return on Norwegian commercial property was 9.9 in 2020 (unlevered). While the direct return last year was 4.4 per cent, value grew by 5.2 per cent.

    • Macro
  • Apr 6, 2021

    Eiendom Norge: Corrected for seasonal variations, house prices in Norway rose by 1.3 per cent in February and are now 9.7 per cent higher than a year ago. Prices in Oslo were up by 2.4 per cent, and have risen by 15.2 per cent over the year.

    • Macro
    • Oslo
    • Residential
  • Feb 3, 2021

    Malling & Co Eiendomsfond has purchased Karl Johans gate 12j in central Oslo from Victoria Eiendom. This 4 000 m2 property is leased to Varner, Warner Music Norway, the Military Officers Union and Inventura.

    • Transaction
    • Oslo
    • City centre
    • Retail
    • Office
  • Feb 3, 2021

    Aberdeen Standard Norway Balanced Fund has acquired Akersgata 16 in central Oslo from Promenaden High Street. Covering 4 829 m2, the property is leased to such tenants as HCA Melbye, Kaffebrenneriet and Vitra.

    • Transaction
    • Oslo
    • City centre
    • Office
    • Retail
  • Feb 3, 2021

    PKH Eiendomsinvest has purchased Håndverksveien 13-17 in the Berghagan Logistics Park at Langhus from a Realkapital Investor club deal. The 11 300 m2 logistics building is fully leased to such tenants as Hurtigruta Carglass, Børresen Cooltech and Outland.

    • Transaction
    • Oslo
    • Logistics
  • Feb 3, 2021

    A Vika Project Finance club deal has acquired Vestre Svanholmen 1 at Forus in Stavanger from Seabrokers Eiendom for about NOK 550 million. This 31 000 m2 property is leased to such tenants as Vår Energi, with a remaining lease term of 13 years.

    • Transaction
    • Stavanger
    • Office
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