28 januari, 2019

Acquisition of utleiebolig AS

Pangea Property Partners sole financial adviser in the NOK 3bn deal

Last week, it was announced that Selvaag Gruppen acquired all shares in Utleiebolig AS, buying out eight other shareholders, with the ambition to become the leading owner of new rental apartments in Norway. The company owns 840 rental apartments, of which 410 in production, in greater Oslo, Lørenskog, Jessheim, Drammen and Bergen. The total lettable area is about 44,000 sqm and the portfolio also includes 541 parking spaces. The sales price of approximately NOK 3 billion makes it one of the largest residential transactions ever in Norway.

Pangea Property Partners was sole financial adviser in the transaction. So far, we have advised on about 60 transactions and advisory mandates with an underlying property value above EUR 3.5 billion in 2018/2019.

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