DIFA Deutsche Immobilien Fonds acquired in January 2006 is the first German real estate fund to acquire property in Norway. The total investment in "Campus Nydalen", an office building which offers 16,400 m² of office and retail space, amounts to some €62 million.
The 6-storey property forms part of the 95,000 m business school campus completed in summer 2005 and situated in the heart of Oslo's up-and-coming Nydalen office location. The vendor is the BI Norwegian School of Management.
"Entering the Norwegian market is a logical next step towards expanding our Scandinavian portfolio," says Ingo Hartlief, the DIFA board member responsible for institutional business. DIFA Immo-Invest already has a holding in Stockholm in the shape of 2 office complexes. In 2005, the recently established fund invested a total of €375 million in 8 properties in Europe and North America. Total assets under management by DIFA Immo-Invest are approv €760 million.