Norwegian real estate investment company Canica Eiendom has bought a mixed-use building in central Oslo from fund manager Meyer Bergman.
Financial details were not disclosed.
The Meyer Bergman European Retail Partners II fund bought the 6,500 m2 property in late 2014.
'This was the first investment by our funds in central Oslo and was the forerunner to our purchase of the Promenaden portfolio, just over a year later,’ said Fredrik Kumlin, Meyer Bergman’s managing director for the Nordic region.
‘Oslo enjoys strong fundamentals as one of Europe’s wealthiest and fastest-growing capitals, so there is a lot of demand from brands looking to open there. We successfully repositioned this property and felt it was the right time to crystallise the returns for our investors,’ Kumlin concluded.