13 januar, 2020

Large hotel deal in Oslo

Pangea adviser to Eiendomsspar in the sale of Scandic Helsfyr to Storebrand

Last week, it was announced that Eiendomsspar sold Scandic Helsfyr to Storebrand for approximately NOK 1.1 billion. The hotel is located in the expansive Helsfyr neighbourhood, 5-10 minutes east of Oslo city. Scandic Helsfyr is undergoing an extensive upgrade and expansion increasing the number of rooms from 253 to 450. When completed in autumn 2020, the hotel will have a total area of about 18,000 sqm and be Scandic’s largest hotel in Norway. Scandic has a long lease agreement expiring in 2037.

Pangea Property Partners was sell-side adviser to Eiendomsspar in the transaction, being the largest Norwegian hotel deal in the last year. We have advised on some 40 transaction and advisory mandates with an underlying property value around NOK 30 billion in 2019 and 2020.

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