23 October, 2017

Sale of retail property in Drammen

Pangea adviser to Citycon when divesting Krokstad Senter

Last week, it was announced that Citycon sells Krokstad Senter just outside Drammen to an investor syndicate established by Clarksons Platou for approximately EUR 20 million. Krogstad Senter is a newly developed retail big box property with a total lettable area of approximately 10,200 sqm. The property is fully let to five tenants on long lease agreements. Krokstad Senter is located next to Buskerud Storsenter, owned by Citycon, being the main shopping destination in the region.

Pangea was sell-side adviser to Citycon in the transaction. So far in 2017, we have advised on some 35 transactions with an underlying property value above NOK 11 billion.

Til nyhetsarkiv
28 May, 2018

Shopping centre deal in Norway

Citycon sells Heiane Storsenter in Norway to the regional investor Midgard Gruppen for approximately EUR 24m. The shopping centre is located in Stord, in the western part of Norway, and has approximately 1.2 million visitors every year. Pangea Property Partners was sell-side adviser to Citycon in the transaction.

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22 May, 2018

Large resi deal in Sweden

Slättö IV sells a newly built Swedish residential portfolio in two separate tranches for almost SEK 1.6bn. The buyers are Trenum (owned by Balder and AP3) acquiring 372 apartments in Stockholm and Västerås and Lansa Fastigheter acquiring 295 apartments in Karlstad and Umeå. The total area is close to 38,000 sqm giving an average price of approximately SEK 43,000 SEK/sqm.

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14 May, 2018

Strategic advisory mandate

Pangea Property Partners has conducted a comprehensive strategic analysis for the Swedish municipality Östersund throughout 2017/2018. Focus of the study has been to map the municipality’s total property holdings (spread across a number of different entities) and present a new and more efficient structure, both from a strategic and financial perspective.

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1 May, 2018

Cross-border deal in Finland

Oslo Pensjonsforsikring sells three retail properties in Finland to Ragde Eiendom. The properties are located in Espoo, Porvoo and Vaasa with a total area of about 13,500 sqm. The properties are fully let to Plantagen with an average lease term of about 17 years. Pangea Property Partners and Mrec was sell-side adviser to Oslo Pensjonsforsikring in the transaction.

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