23 oktober, 2017

Sale of retail property in Drammen

Pangea adviser to Citycon when divesting Krokstad Senter

Last week, it was announced that Citycon sells Krokstad Senter just outside Drammen to an investor syndicate established by Clarksons Platou for approximately EUR 20 million. Krogstad Senter is a newly developed retail big box property with a total lettable area of approximately 10,200 sqm. The property is fully let to five tenants on long lease agreements. Krokstad Senter is located next to Buskerud Storsenter, owned by Citycon, being the main shopping destination in the region.

Pangea was sell-side adviser to Citycon in the transaction. So far in 2017, we have advised on some 35 transactions with an underlying property value above NOK 11 billion.

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