Norwegian Property has entered into an agreement to sell a 10,800-m[sup]2[/sup] office property in Oslo for NOK 324 mln (EUR 37 mln), almost EUR 2 mln above the current valuation. The buyer is Arivest AS, a company owned by the Havila Ariel group. The current external financing of the property at Drammensveien 144 will be continued under the new ownership, on renegotiated terms. Oslo-based Norwegian Property said the sale is in line with its strategy to actively develop its portfolio.
Norwegian Property has entered into an agreement to sell a 10,800-m2 office property in Oslo for NOK 324 mln (EUR 37 mln), almost EUR 2 mln above the current valuation. The buyer is Arivest AS, a company owned by the Havila Ariel group. The current external financing of the property at Drammensveien 144 will be continued under the new ownership, on renegotiated terms. Oslo-based Norwegian Property said the sale is in line with its strategy to actively develop its portfolio.
It is expected that the transaction will be completed in the beginning of March 2009.
Furthermore, Norwegian Property's subsidiary Norgani Hotels has entered into an agreement for the sale of the hotel property Park Inn (Tollbugata 28) in Oslo to Kristiania Eiendomsforvaltning. The hotel is under construction and is to be completed and taken over by 2010. The property value is NOK 154 mln (EUR 17.5 mln), which, Norwegian Property said, is in line with the current valuation.
