NREP Income+ has acquired Quality River Station (Doktor Hansteins gate 7) in Drammen from Bane NOR Eiendom for NOK 485 million. This 13 000 m² hotel is leased to Nordic Choice Hotels for a 13-year term.

NREP Income+ has acquired Quality River Station (Doktor Hansteins gate 7) in Drammen from Bane NOR Eiendom for NOK 485 million. This 13 000 m² hotel is leased to Nordic Choice Hotels for a 13-year term.

Estate news: Anthon B Nilsen has purchased Øvre Vollgate 11 from the Cooperative Housing Federation of Norway (NBBL). Tenants of this office property include NBBL, the Norwegian Breast Cancer Association, the Norwegian Association for Children with Congenital Heart Disease and the Norwegian Union of Librarians. Annual rental income for the 4 000 m² property is about NOK 6.3 million.

Nordea Liv has paid a club deal arranged by Njord Securities NOK 485 million for Bavariakvartalet (Fabrikkveien 36, 38 and 41) in Stavanger. The 22 000 m² retail property is leased to Bavaria Stavanger AS and Porsche Center AS. Rental income in 2020 was about NOK 27 million.  

Pareto Eiendomsfelleskap has purchased Delitoppen 3 in Vestby from Fonc Holding. Covering 16 000 m², this logistics building is leased to tenants such as Sunrise Medical AS, Rajapack AS, Abena Hygiene AS and Cosentino Norway AS. Rental income for 2020 was NOK 16.7 million.

Australia’s Macquarie Asset Management has acquired Heiaveien 8 in Fetsund for NOK 690 million. Bohus has secured a sale and leaseback agreement for this 31 000 m²  logistics building. The lease term is 15 years.

Ne.no: Bulk Industrial Real Estate has awarded a lease to Lettbutikk AS for 17 000 m² in Bulk Park Enebakk. Lettbutikk will move in when this warehouse building is completed in the spring of 2022.  

Ne.no: Storebrand and Aspelin Ramm have awarded a lease to NREP at VIA in Oslo (Ruseløkkveien 26). This 41 500 m² office building is now fully leased.

Ne.no: Bulk Industrial Real Estate has awarded a lease to DSV Solutions for 39 000 m² in Bulk Park Vestby. DSV Solutions will move in when this new logistics building is completed in the autumn of 2022. 

As expected, Norges Bank raised its base rate to 0.25 per cent at the interest-rate meeting on 23 September. The central bank indicated at the same time that it expects the next rate rise to be in December 2021.

UNION: The average bank margin for new five-year loans with 65 per cent loan-to-value is 209 basis points – down five points since the second quarter.

Statistics Norway: The consumer price index (CPI) rose by 3.4 per cent from August 2020 to August 2021. Over the same period, the consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) was up by one per cent.

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.

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.

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. 

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.

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.

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.

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.

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.