PORSGRUNN, NORWAY: R8 Property ASA has entered into an settlement with Skanska Commercial Development Norway to purchase Parallell, a sustainable and modern workplace property located in Økern, Oslo.
The 19,000 sq. meters and 15 storey constructing was accomplished in 2020. The transaction, which is anticipated to be accomplished in November 2022, is based on a gross property worth of NOK 750 million, adjusted for elevated rental income and represents a quantum leap for R8 Property in its growth journey.
Located in an space in development, Parallell is positioned subsequent to the general public transport hub, Økern, ten minutes away from Central Oslo by metro. The constructing is additionally simply accessible by car from Ring 3/E6 – one of Oslo’s main roads.
The constructing has been BREEAM licensed and received Excellent Rating. Strict environmental necessities have been set for the constructing all through its life cycle, together with restricted use of chemicals, recycling of supplies and energy-efficient solutions.
The constructing has been developed with a spotlight on tenants’ well-being and offers excellent lighting conditions, which helps a good working environment. As a result, the constructing has achieved a WELL Core Gold pre-certification by the WELL Building Standard, which means that the property scores excessive on constructing options that impact human well being and well-being. These certifications are in line with R8 Property’s focus on its environmental footprint, innovation and technology.
Today, seven of the 15 storeys have been leased by the flex space supplier Evolve. In total 66% of the constructing is now leased.
“The acquisition of Parallell represents a quantum leap for R8 Property as we proceed to work towards a property portfolio valued at NOK 5 billion. We were drawn to Parallell for a number of reasons. One of its strong factors was its sustainable development and concept, which aligns with our imaginative and prescient to create a sustainable future,” says Emil Eriksrød, CEO in R8 Property.
“We have a profitable track record in leasing out properties in Oslo and close by areas. This constructing is spot on market demand with its central location, versatile workplace options and attractive environmental features,” says Emil Eriksrød.
Completion of the transaction is conditional upon financing. The firm is contemplating making a private placement to finance the acquisition completely or together with debt financing.
www.r8property.no