Hines has successfully completed the sale of Karl Johans Gate 45 in Oslo, Norway. The 5,100m² building was sold to Euro Real Estate for an undisclosed price on behalf of a real estate fund of Bayerische Versorgungskammer (BVK). Hines acquired the building in 2015 on behalf of BVK, one of Germany’s largest pension scheme groups, as part of its European high street retail mandate.
Located on Karl Johans Gate, the building is one of the most sought-after retail locations in Oslo. The building provides retail and office space over seven storeys, with major tenants including Hard Rock Cafe and Landkreditt Bank.
Ralf Peter, Managing Director at Euro Real Estate said: “Karl Johans Gate 45 represents a high-quality mixed-used asset on Oslo’s most prominent high street. We are making a long-term investment in Oslo’s thriving retail sector.”
James Robson, Hines’ Nordics regional head, said: “Karl Johan Gate was the first acquisition on behalf of BVK in the Nordics and we look forward to continuing to work with them across the Nordic region.”
