Norwegian Property AS is a new Norwegian property company. It is established to offer both private and institutional investors access to a large, liquid, broadly diversified and attractively valued investment alternative with exposure towards the market for Norwegian commercial real estate with central locations.

 

- The establishment of Oslo Areal ASA and Norgani Hotels ASA in 2005 proved that both Norwegian and international investors values larger, liquid and well diversified property companies. With the establishment of Norwegian Property AS we now make available what is expected to be the largest listed Norwegian property company, says CEO Mads Syversen of SEB Enskilda in Oslo.

 

The properties are bought from, among others, Anders Wilhelmsen Gruppen / Linstow Eiendom, Fram Management, several K/S-syndicates managed by Pareto Private Equity and First Securities / Sparebank 1 Gruppen, as well as

Formuesforvaltning and Gjensidige Forsikring. Most of the sellers are also participating in the establishment through roll-overs from properties to new equity.

 

The board of Norwegian Property AS consists of Knut Brundtland (Chairman), Jostein Devold, Egil K. Sundbye and Torstein Tvenge.

 

- We have completed a very hectic process with the acquisition of around 30 properties, valued at around NOK 10 billion, and a private placement of NOK 1.8 billion. Going forward we will recruit 15 to 20 people, prepare an IPO and assess further acquisitions, says Chairman Knut Brundtland in Norwegian Property.

 

For further information, please contact:
Norwegian Property, Chairman, Knut Brundtland, Phone: +47 922 24 834
SEB Enskilda, Director Bård Bjølgerud, phone: +47 982 28 524
Press contact: Jørgen Christiansen, phone: +47 913 13 199