Aspelin Ramm has sold one of the Nordics’ most attractive shopping centres, ALNA centre, after 40 years’ ownership. ALNA is Oslo's third largest shopping centre and a popular retail venue with highly loyal customers. It has five million annual visitors and generates an annual turnover of €210m (NOK 2bn). The centre offers construction merchandise, furniture, home and interior, sports and electronics, and has an annual rental income of €9.9m (NOK 94m). Major tenants include Elkjop, Skeidar, XXL, Biltema, Maxbo and Meny. The buyer is Joh Johannson Eiendom AS. The purchase price has not been disclosed.
"We have had a great interest over the years from investors, both Norwegian and international, who want to buy ALNA centre," says Gunnar Boyum, CEO of Aspelin Ramm. "The sale is part of normal portfolio adjustments of a fully-developed property and frees substantial capital for new projects. We are very proud of what we have achieved with ALNA centre. Our advisor, Pangea, went out into the market with the centre in March, signed exclusivity with the buyer in May, and a final signing is now taking place in June."
The centre benefits from a close proximity to the freight terminals at Alnabru and Alfaset, as well as a new residential development for 40,000 new homes.
The new owner has brought in LL Holding AS’ Lars Loseth, founder and former co-owner of the AMFI chain, to manage the centre in the future. Loseth also strongly believes in the centre’s continued development and growth.
"ALNA centre has a very strong position with an attractive location, strong tenants and solid sales. With around 1,100 parking spaces just outside Ring 3 and with the centre's mix of specialist trade, big box and retail shopping, it is especially suitable for merchandise categories that require a lot of space for handling and showcasing in the future," says Loseth.
Pangea Property Partners advised Aspelin Ramm, while BAHR served as the legal adviser. Pareto Securities AS served as an adviser for the transaction on the buyers’ side, with Wiersholm as the buyer’s legal adviser.
