Aberdeen Standard Norway Balanced Property Fund acquired Munkedamsveien 59B, a centrally located office property near Aker Brygge in Oslo.
Munkedamsveien 59B is a 2,000 sqm office property located close to Aker Brygge, the Vika office area and a variety of public transport options.
The 6-storey property is fully let to various tenants with several lease contracts coming up for renegotiation, suggesting a value-add element.
"We are in search of good properties in Oslo CBD, and this property has a very good location. There are some contracts that shall be renegotiated and others that have been renegotiated. We hope to add some additional value here, says Per Samuelsen, Fund Manager at Aberdeen Standard Norway Balanced Property Fund".
The vendor was Victoriagården Invest, a company where Arne Vannebo, CEO of AVA Eiendom, is the largest shareholder.
Akershus Eiendom acted as the sell-side advisor for Victoriagården Invest, while CLP acted as legal advisors. Aberdeen Standard Norway Balanced Property appointed Wikborg Rein as their legal advisor.
Victoriagården Invest is an investment company owned by the employees of AVA Eiendom.
Aberdeen Standard Norway Balanced Property is designed for high-net-worth individuals, family offices, foundations and institutional investors with a strategy to invest in retail, office and industrial/logistics properties in Norway. The fund is one of many within Aberdeen Standard Investments, one of the largest global real estate managers.