Deka Immobilien GmbH has acquired a prestigious office building in the central business district of Oslo. The property was sold by Norwegian Property (NPRO), a real estate company listed on the Norwegian stock exchange, for around €55m, and will be added to the open-ended real estate fund Deka-ImmobilienEuropa.
The office complex consists of an old structure with a protected heritage façade from 1895 that is connected by an atrium to a new building that was completed in 2004. Both buildings were extensively renovated in 2014. The property offers around 6,700m² of leasable space and 22 parking spaces, and is almost fully occupied. The main tenants are the Stortinget parliamentary administration and insurance broker, AON Norway. The property is located in the heart of the central business district, in the immediate vicinity of Stortinget, the Norwegian Parliament. The surrounding area includes country representative offices and embassies, City Hall, the Royal Palace and the main retail street of Oslo.
This transaction allows fund management of Deka-ImmobilienEuropa to enter the Norwegian market with a prominent building in a top location, and diversifies the portfolio by adding an attractive new location in Europe.
