DNB Livsforsikring is selling a NOK5bn (鈧�524m) central Oslo office asset.
The Norwegian life insurer is selling its Oslo City asset to an Entra and Steen & Str酶m led-consortium.
The 80,535sqm asset, near Oslo鈥檚 central station, is due for redevelopment.
DNB has owned the property since 1994.
Tom Rathke, group executive vice-president at DNB, said: 鈥淒eveloping, purchasing and selling properties is an integral part of being a large player in the property market, and we are prepared to purchase and sell other properties to further develop our property portfolio.鈥�
The company has reduced its property portfolio through sales in recent years due mainly to 鈥済ood transaction opportunities鈥�.
鈥淚n turn, this has given us the chance to realise strong gains for our pension customers,鈥� Rathke said.
In , DNB sold 58,000sqm of real estate surrounding football stadium Ullevaal Stadion to Norway鈥檚 Oslo Pensjonsforsikring.
