28 august, 2017

Large retail deal in Bergen

Øyrane Torg

Øyrane Torg (Photo: B. Ystebø)

Pangea adviser to Nistad Gruppen when divesting Øyrane Torg.

Last week, Nistad Gruppen divested Øyrane Torg in Bergen to DNB Scandinavian Property Fund for just above NOK 600 million. Øyrane Torg is a shopping centre that opened in 1994 and was extended in 2002/2004 and 2007/2008. Today, the centre has some 50 stores, restaurants and service facilities with an annual turnover above NOK 600 million. The total area is approximately 18,300 sqm, of which 10,100 sqm retail and 3,400 sqm office premises.

Pangea Property Partners was sell-side adviser to Nistad Gruppen in the transaction. So far in 2017, we have advised on more than 30 transactions with an underlying property value around NOK 10 billion.

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