LONDON, 18 February 2016 – CBRE Global Investors has acquired the iconic office building Hieronymus Heyerdahlsgate 1 in Oslo, Norway on behalf of one of its Pan European funds.
This landmark building, which comprises 14,000 sqm of office and retail space, is in a prime location beside the Oslo City Hall, in the prestigious area of Vika in the CBD. Hieronymus Heyerdahlsgate 1, named after the Mayor of Oslo from 1912 to 1914, was built in 1936 as part of the City Hall and Vika area development. Today, the historic asset is home to several office and retail tenants, some of which have been in the building since construction.
Rik Eertink, Country Manager Nordics, CBRE Global Investors, said: “We are pleased to have secured our second acquisition in Oslo. We are aiming to make additional acquisitions in the short-term within the Nordic region and are actively scanning the market for that purpose. With a 10-year Nordic track record, a footprint in all four Nordic countries and dedicated teams within the region, we have ambitious plans to grow the business.“
John Mulqueen, Head of Transactions EMEA, CBRE Global Investors, said: “We are delighted to have secured this exceptional asset. We have a significant amount of capital to invest in 2016 and remain focussed to identify further attractive investment opportunities in the Nordics and across EMEA on behalf of our clients. We have an outstanding local team and are proud of our track record in successfully completing transactions across the region.”
CBRE Global Investors already owns Bogstadveien 11, the H&M flagship store in Oslo.
The seller is Bendixen Eiendom AS. The property has never been sold previously.
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $89.0 billion in assets under management* as of December 31, 2015. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 70,000 employees in more than 400 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.
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