Entra ASA Acquires large development site at Bryn in Oslo

Oslo June 2018 – Entra ASA acquires 10 properties in Bryn, Oslo. The transaction comprises 5 simultaneous transactions with 6 different sellers, primarily family owned property companies.

The current building area totals ~57.000 square meters, with a gross rent of approximately 60 mNOK. The total land plot is 38,140 square meters with an expected development potential of around 120,000 square meters of office- and residential areas. As part of the transaction Entra partnered up with JM Norge AS who later will acquire some of the land plots which are zoned for residential development, subject to detailed plan. Saja Eiendom (represented by two of the sellers) is intended to manage the portfolio onwards.

Bryn is an area characterized by extensive transformation and construction activity. Several office developments are currently being planned, whereas some have already been set in motion, replacing former warehouses and industrial space. Bryn is an attractive area for further office development due to its complete range of public transportation options and close proximity to Oslo CBD. Besides Oslo Central station, Bryn is the only location with the option to travel by bus, train, or metro, all stations located within reasonable walking distance. Oslo Central station can be reached in only 5 minutes by train.

Recently, the municipality initiated plans to upgrade and expand both the metro and train stations at Bryn, not only increasing the capacity, but also the available destinations and number of departures. Moreover, Bryn train station has been pointed out as the natural place for an extension of the Gardermobanen (dedicated express railway going to Gardermoen airport), adding yet another option to the commute to and from Bryn.

Bryn will also become home for many more residents, as the zoning opens for residential developments. “Brynsalmenningen” is among several suggested urban recreational areas for shopping, food and leisure with the intention of attracting people also outside of regular office hours. Once completed, Bryn will serve as a new and vibrant urban district housing many of Oslo’s biggest companies along with retailers and residential apartments.

Akershus Eiendom acted as advisor to all the vendors on the transaction, while Schødt, Thommessen, Ræder and Selmer acted as legal advisors to the buyer/sellers.

Akershus Eiendom is the leading Norwegian property advisor established in 1992 providing a wide range of advisory services within capital markets, leasing, corporate solutions and research/valuation. During 2017, Akershus Eiendom executed transactions with a total worth of ~ €1.9 billion in the Norwegian market divided between 47 transactions, while the 2018 YTD volume is NOK 8.5 billion. Since 2001, Akershus Eiendom has been JLL’s affiliated partner in Norway.

Deal Team

Christian Valdem
+47 924 04 599
cv@akershuseiendom.no

Petter Nylend
+47 994 31 200
pn@akershuseiendom.no

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