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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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  • 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.
    • Transaction
    • Other
    • Office
  • 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.
    • Transaction
    • Oslo
    • Bryn-Helsfyr
    • Office
  • 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.
    • Transaction
    • Other
    • Retail
  • 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.
    • Transaction
    • Stavanger
    • Retail
  • 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.
    • Transaction
    • Oslo
    • Inner City West
    • Office
  • Sep 4, 2019

    Arealstatistikk: The average level of rents for signed leases in Oslo was NOK 2 410/m2 for the second quarter of 2019. This represented an eight per cent increase from the first quarter of 2019. The four-quarter rolling average is up by two per cent from the first quarter and six per cent from the same quarter of 2018.
    • Rental market
    • Oslo
    • Office
  • Sep 4, 2019

    Norges Bank decided to keep its base rate at 1.25 per cent at its rate-setting meeting on Thursday 22 August. According to the central bank, new information acquired indicates overall that the short-term outlook for interest rates has changed little since the previous meeting, but that the international risk picture poses greater uncertainty.
    • Macro
  • Sep 4, 2019

    Statistics Norway: The consumer price index (CPI) rose by 1.9 per cent from July 2018 to July 2019. The consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) rose by 2.2 per cent in the same period.
    • Macro
  • Sep 4, 2019

    Statistics Norway: Unemployment was 3.6 per cent in June after an 0.1 percentage point increase from March, according to seasonally adjusted figures from the labour force survey (AKU). Employment rose by 4 000 people over the same period.
    • Macro
  • Jul 2, 2019

    DNB Scandinavian Property Fund has purchased Vitaminveien 4 at Storo in Oslo from Skanska Commercial Development for NOK 1 325 million. This 24 000 m2 office building is leased to the Norwegian Directorate of Health, the Sagene district, Opera Software and Evolve Business Space.
    • Transaction
    • Oslo
    • Nydalen
    • Office
  • Jul 2, 2019

    Carucel Eiendom has called the option to acquire one-third of the equity interest in the commercial areas at Sørenga, Sørengkaia, Barcode and northern part of Bispevika, as well as the associated parking facilities at Sørenga and Munch Brygge from Madison International for approximately NOK 1 100 million. Carucel Eiendom will manage the 38 000 m2 portfolio in Bjørvika in Oslo.
    • Transaction
    • Oslo
    • Bjørvika
    • Retail
    • Other
  • Jul 2, 2019

    A NRP syndicate has acquired Energivegen 12 in Tananger from K2 Stavanger. The 10 000 m2 mixed use property is leased to Expro Norway with an annual rental income of around NOK 25 million.
    • Transaction
    • Stavanger
    • Logistics
    • Office
  • Jul 2, 2019

    Ragde Eiendom has purchased Petroleumsveien 6 at Forus in Stavanger from DNB Scandinavian Property Fund. This 9 600 m2 office building is currently leased to SpareBank 1 SR-Bank and Eiendomsmegler 1 SR-Eiendom. Annual rental income is around NOK 18 million. As previously reported, SpareBank 1 SR-Bank will be moving its head office to Finansparken (Bjergsted Terasse 1) in Stavanger this autumn.
    • Transaction
    • Stavanger
    • Office
  • Jul 2, 2019

    Scala Eiendom has acquired CC Drammen (Tomtegata 36) from Niam Nordic V. The 22 600 m2 shopping centre accommodates more than 30 retail outlets.
    • Transaction
    • Other
    • Retail
  • Jul 2, 2019

    Steen & Strøm and Storebrand are making a complete about-turn at Økern in Oslo. They now want to build a market square and shopping streets covering 15 000 m2 in all, split between shops, restaurants and cultural provision. In addition, 2 000 homes and 117 000 m2 of commercial space for offices and hotels are planned. This represents an increase of 1 800 homes and 72 000 m2 in office and hotel space as well as a reduction of 30 000 m2 in retailing space compared with the original scheme.
    • Rental market
    • Oslo
    • Økern-Hasle-Løren-Ulven
    • Retail
    • Office
    • Hotel
  • Jul 2, 2019

    Eiendomsspar has awarded a lease covering 2 700 m2 to WeWork at Tjuvholmen allé 1–5 in Oslo. The global coworking player will be opening its first flexible workspace in Norway at the end of the fourth quarter of this year.
    • Rental market
    • Oslo
    • CBD
    • Office
  • Jul 2, 2019

    DNB Næringseiendom has awarded a lease covering 4 200 m2 with WeWork at Fjordalléen 16 in Oslo’s Aker Brygge district. WeWork will be opening its second flexible workspace in Norway during the first quarter of 2020.
    • Rental market
    • Oslo
    • CBD
    • Office
  • Jul 2, 2019

    Statistics Norway: The consumer price index (CPI) rose by 2.5 per cent from May 2018 to May 2019. The consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) showed an increase of 2.3 per cent over the same period.
    • Macro
  • Jul 2, 2019

    Norges Bank increased its base rate from 1.00 to 1.25 per cent on Thursday 20 June. The central bank envisages raising this rate once more during the year.
    • Macro
  • Jun 4, 2019

    OBOS Eiendom has sold Scandic Ørnen (Lars Hilles gate 18) in Bergen to Oslo Pensjonsforsikring for about NOK 800 million. This 19 000 m2 hotel property with 368 rooms is leased to Scandic Hotels Group.
    • Transaction
    • Bergen
    • Hotel
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