STOCKHOLM, 1 September 2020 – CBRE Global Investors, on behalf of one of its pan-European fund’s, has agreed the sale of Hieronymus Heyerdahlsgate 1, a 13,741 sq m office asset 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. Located in the Vika neighbourhood of central Oslo, the asset is 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.
Andreas Norberg, Head of Investment Operations Nordics at CBRE Global Investors commented: “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.”
CBRE Norway and Bahr advised CBRE Global Investors.
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About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $109.6 billion in assets under management* as of June 30, 2020. 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:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 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 assets-related investments 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 assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.