Norwegian Property ASA (NOTC: NPRO) has signed the final contract with Astrup Fearnley AS for the acquisition of Grev Wedels Plass 9 in Oslo.
 
The final acquisition price was NOK 754 million after tax. The property has a total area of 28.299 square meters, including a small property in Skippergaten 3, and includes 162 parking-spaces.
 
The property will be transferred to Norwegian Property ASA on 31 August.
 
Gross rent is NOK 44.2 million, implying a net yield of 5,6 percent. The vacancy rate is 0 percent.
 
For further details about this transaction, see the release dated 11. July 2006.
 
Norwegian Property ASA in brief
Norwegian Property ASA will offer investors a liquid investment alternative with exposure towards Norwegian commercial real-estate. The company will invest in larger, centrally located properties in the largest Norwegian cities. The long term target is to become the largest and most liquid investment alternative within Norwegian commercial real-estate. Norwegian Property ASA is listed on the Norwegian OTC-list (NOTC), with the ticker-code NPRO, and is planning an IPO and listing on the Oslo Stock Exchange during the second half of 2006.
 
 
Further information from
Knut Brundtland, chair, Norwegian Property ASA, tel: +47 40 06 20 20