Norwegian Property ASA will acquire C. J. Hambros plass 2, known as the 'Ibsen-block' in Oslo. The contract values the properties at about €150 million. The properties have a total area of 38.147 m², of which 84% is office space. The average duration of the lease contracts is 7.7 years.
Closing of this contract is conditioned upon final acceptance at the seller's general meeting, to be held in July. After closing of this contract, the company will have a portfolio of 31 properties, with a total area of about 410.000 m². In addition to this, the company expects to close transactions for two additional buildings in June/July, bringing the total portfolio up to 33 properties with a total area of about 450.000 m². The average duration of the lease contracts in the portfolio will be about 8 years, and the properties will - on average - have been acquired at an implicit net yield after tax of about 6%.
Source: Norwegian Property ASA