21.12.2022 09:00:00 CET | Entra ASA | Additional regulated information required to be disclosed under the laws of a member state
Entra has sold the properties Konggata 51, Karenslyst Allé 8A, Karenslyst Allé 8B and Sørkedalsveien 6 for a total transaction value of NOK 1.9 bn, which is two per cent below book values as of 30.09.22.
Konggata 51 is located in Drammen whilst Karenslyst Allé 8A, Karenslyst Allé 8B and Sørkedalsveien 6 are located in Oslo, respectively at Skøyen and Majorstua. The properties total 34,000 sqm with full-year gross rental revenues of approximately 85 million. The three Oslo properties were acquired by Entra in the Oslo Areal portfolio transaction which closed earlier in 2022.
The divestment processes were initiated during the summer and autumn of 2022, and there has been significant buyer interest for all four assets. The properties will be acquired by three different buyers; a Norwegian privately held real estate company, a Norwegian family office, and an international PE fund. The transactions are in accordance with Entra’s strategy to focus the portfolio on large, flexible office buildings in selected clusters close to public transportation hubs and to divest non-core assets. The proceeds will be used to strengthen Entra’s balance sheet.
The transactions involving the assets at Skøyen and in Drammen are closing in December 2022 and the sale of Sørkedalsveien 6 will be closed during Q2 2023.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contacts
Anders Olstad, CFO, +47 900 22 559, ao@entra.no
About Entra ASA
Entra is a leading owner, manager and developer of office properties in Norway. Entra owns and manages around 107 properties totalling approximately 1.6 million square meters, located in Oslo and the surrounding region, Bergen, Trondheim and Stavanger. Entra has a solid customer portfolio with a high proportion of public tenants. The company’s strategy is focused on delivering profitable growth, high customer satisfaction and environmental leadership
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