CBRE Global Investors sells office property in Oslo

CBRE Global Investors sells office property in Oslo
Hieronymus Heyerdahlsgate 1 Image: Courtesy of CBRE GI

CBRE Global Investors has agreed to sale Hieronymus Heyerdahlsgate 1, a 13,741 sqm office property in Oslo, Norway to Ferd A/S, a family-owned Norwegian investment-company, in an off-market transaction.

Hieronymus Heyerdahlsgate 1 is let to 25 tenants and includes 2,470 sq m of retail accommodation at ground-floor level. It was acquired by CBRE Global Investors in 2016.

The office property is located in the Vika neighbourhood in Oslo and conveniently situated for the city’s main transport hubs, the City Hall and the national theatre, and benefits from amenities such as a gym and bicycle parking.

“This off-market transaction represented a good opportunity to outperform our asset business plan after holding the asset for more than four years. To have achieved this against the backdrop of the Covid-19 pandemic is a strong endorsement of our ability to identify and execute competitive investment opportunities, but also of our strength in the Nordic region. We continue to see significant opportunities in the Nordics and plan to redeploy this capital in line with our ambition to grow our holdings in this market,” said Andreas Norberg, Head of Investment Operations Nordics at CBRE Global Investors.

CBRE Norway and Bahr advised CBRE Global Investors.