Luxembourg-headquartered investor Euro Real Estate has purchased a mixed-use asset in Oslo, Norway from international investor Hines acting on behalf of a Bayerische Versorgungskammer (BVK) real estate fund.
Hines said it acquired the building for BVK in 2015 as part of its European high street retail mandate. The 5,100 m2 asset at Karl Johans Gate 45 comprises retail and office space over seven storeys, with tenants including Hard Rock Café and Landkreditt Bank.
Ralf Peter, managing director at Euro Real Estate said: 'Karl Johans Gate 45 represents a high quality mixed used asset on Oslo’s most prominent high street. We are making a long-term investment in Oslo’s thriving retail sector.'
'Karl Johan Gate was the first acquisition on behalf of BVK in the Nordics and we look forward to continuing to work with them across the Nordic region,' said James Robson, Hines’ Nordics regional head.
Hines was advised by Akershus Eiendom and Bahr, while Euro Real Estate was advised by Cushman & Wakefield Realkapital and CLP.