DNB picks up new Oslo office for €134m

Norway's DNB Scandinavian Property Fund (DNB SPF) has acquired a newly built office property in Oslo, Norway from developer Skanska for NOK 1.3 bn (€134 mln).

Dubbed Workplace Oo, the 24,000 m2 property was developed and built by Skanska, with completion taking place in December 2018. The building is already 95% leased, and has been designed with BREEAM-Nor Excellent in mind, Skanska said.

Tenants include the Norwegian Directorate of Health, District Sagene of the Municipality of Oslo, Evolve Business Space and Opera Software.

Transfer of ownership is scheduled for the third quarter 2019.

DNB SPF, established by DNB, Norway's largest financial services group, is managed by DNB REIM. It comprises a diversified and unlevered property portfolio for institutional investors, according to DNB.

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