NOK 4.8bn retail deal in Norway

Pangea Property Partners is proud to have acted as financial adviser, debt adviser, and Joint Manager/Bookrunner in the creation of Aurora Eiendom and the acquisition of five Norwegian shopping centres valued at NOK 4.8bn (EUR 473m) in total.

The first four centres are signed and acquired from Steen & Strøm (Klépierre / ABP) / KLP. Aurora Eiendom has also signed a letter of intent (LOI) to acquire a fifth large Norwegian shopping centre at ca. NOK 1.8bn from an institutional owner. The five centres have a total gross lettable area of 109,000 sqm and an annual footfall of approx. 13.5m.

In total, a directed equity issue close to NOK 1.4bn has already been pre-subscribed by 11 cornerstone investors. An additional NOK +600m will be raised in a private placement in June. Aurora Eiendom is supported by leading Norwegian banks (DNB and four savings banks in SpareBank 1-alliansen). The company has growth ambitions and is planning to list on Euronext Growth in Oslo, during 2021.

Pangea’s team consisted of: Håvard A. Nustad, Bård Bjølgerud, Erik Høvik, Sondre Aarseth Skjerven, Aleksander Lee Olsen and Elias Wiklund.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

PropTech solution enables easier and faster sales reporting across retail real estate sector

Retail property owners and managers across Europe are removing friction from the process of collecting tenants’ turnover data by using Chainels, the tenant experience app.

Placewise Wins PropTech Breakthrough “Commercial Property Management Platform of the Year”

The annual awards program recognizes innovation in the global real estate technology industry. The company wins the awards for second year in a row with Tenant Connect.

FOCUS with new tenant – Ukrainian start-up Bafood set to open another restaurant in Warsaw

Bafood, a Ukrainian delivery-first restaurant concept, has joined the list of tenants of the FOCUS building in Warsaw. JLL Poland, a leader in the country’s real estate consulting sector, assisted in the leasing side in the transaction.

CHARLES TYRWHITT UNVEILS FIRST OF ITS KIND STORE AT CENTRE:MK

British menswear brand, Charles Tyrwhitt, has officially unveiled the first of its new store design at centre:mk, one of the top 10 retail destinations in the UK.

ANCHOR BRAND SUPERDRY OPENS AT ICON OUTLET AT THE O2 AS THE DESTINATION CONTINUES TO OUTPERFORM

Icon Outlet at The O2, developed by AEG and Crosstree Real Estate Partners, has announced the opening of Superdry, the premium apparel brand. The opening coincides with a record-breaking summer trading period across The O2’s Entertainment District and Icon Outlet.

VIA Outlets Appoints Thierry Seang as Investment Director

VIA Outlets, the industry-leading owner-operator in redefining the outlet shopping experience across 11 premium outlets in Europe, announces the appointment of Thierry Seang as Investment Director.