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Norwegian Property (NPRO) acquires Telenor's headquarters at Fornebu

Last summer, Telenor engaged UNION Norsk Næringsmegling and Arctic Securities to explore a potential sale of Telenor's headquarters at Fornebu. Today NPRO Holding AS entered into an agreement with Telenor Real Estate AS for the purchase of Snarøyveien 30. The transaction values the property at NOK 5,450 million in gross property value, and is the largest single asset transaction in the Nordics.

Snarøyveien 30 was built in 2002 and was designed by HUS Sivilarkitekter MNAL, NBBJ Architects Norway and Per Knudsen arkitektkontor. The plot is 134,000 sqm, and has a building mass of 198,000 sqm (including parking). The largest tenants are Telenor, Tieto Evry, ABB and Norwegian Fashion Center.

The sale of the headquarters, together with 85 development properties that were sold after the summer, is part of Telenor's program for simplification and modernization.

UNION and Arctic would like to thank Telenor and their legal adviser Advokatfirmaet Haavind, as well as Norwegian Property and their advisers Advokatfirmaet Wiersholm and PwC, for a good collaboration through the process.

For more information, contact partner in UNION Norsk Næringsmegling Erlend Aagesen.

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