5 august, 2019

Major shopping centre deal in Norway

Pangea adviser to Coop Klepp and Dolphin Eiendom in the sale of Jærhagen Kjøpesenter outside Stavanger

In the beginning of July, it was announced that the joint owners, Coop Klepp and Dolphin Eiendom, sold Jærhagen Kjøpesenter, worth nearly NOK 1 billion, to a syndicate established by NRP Finans. The shopping centre is located in Klepp municipality, about 25 kilometres south of Stavanger, and comprises about 57,000 sqm, plus 10,000 sqm of parking. The centre has been significantly upgraded and extended over the last 18 months with an expected footfall close to 3 million visitors. Coop Klepp is the largest tenant at the shopping centre, and the former owners will retain 35% ownership in the new syndicate buying the centre.

Pangea was sell-side adviser to Coop Klepp and Dolphin Eiendom in the transaction. In the first half of 2019, we advised on 24 transaction and advisory mandates with an underlying property value close to NOK 19 billion.

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