Publications

- March 1, 2012: Vol. 6, Number 3

To read this full article you need to be subscribed to Institutional Real Estate Europe

Valad Sells Norwegian Mixed-use Asset

by

Valad has sold Tevlingveien 23, an office and retail mixed-use property in Oslo, to Wenaas Eiendom AS, a wholly-owned subsidiary of Wenaasgruppen. The buyer is developing a hotel on the site adjacent to the property.

The 24,277-square-metre property had been held in Valad’s DUKE joint venture. In the four-year period that Valad owned the building, the firm reduced the property’s vacancy rate from 16 percent to 4 percent and secured a new anchor retail tenant, JYSK.

“Having now completed the business plan and found a suitable purchaser with a vested interest in the location, it was an appropriate time to trade the asset in the best interests of our investors,” says Michael Bruhn, Valad’s Nordic head.

 

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?