Union Investment sells office property in Oslo (NO)

The Campus Nydalen office property in Oslo is changing hands. Union Investment originally acquired the building in 2006 for its institutional real estate fund UniInstitutional European Real Estate. The new owner of the 16,756 m² property, which is located in the heart of the Nydalen office district, is BI Norwegian Business School, the country’s third-largest educational institution – from which Union Investment purchased the property back in 2006.

Further details of the transaction were not disclosed. "We have taken advantage of a unique market opportunity to sell the property to a strategic buyer," said Dr. Christoph Schumacher, a member of the management team at Hamburg-based Union Investment Institutional Property GmbH. The proceeds will be reinvested shortly in core European countries.

Source: Union Investment

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