Norwegian Property has entered an agreement for the sale of Østre Aker vei 20 and 22 at Økern in Oslo for NOK 155 million. The buyer is a consortium lead by Pareto Private Equity. The sale is in line with Norwegian Property's strategy to actively develop the portfolio and dispose non core properties.

 

The sales price is above the property value as per December 31st 2007 and about NOK 30 million in positive cash flow will be released.

 

The transaction will be completed on April 1st, 2008.

 

For further information, contact;

Dag Fladby, Chief Investment Officer +47 9089 1935