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Nordic Update

Madison makes big Oslo acquisition

Publicerad: 10 januari 2019, 18:49

The Bjørvika area in Oslo. Photo: Wikipedia.

In a large deal, American PE firm Madison International Realty is completing the acquisition of the majority of the ground-level commercial assets in Bjørvika, Oslo. In total, the Madison acquires a total lettable floor area of 38,000 sq.m. in Bjørvika.


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Arctic Securities

In a large deal, American PE firm Madison International Realty is completing the acquisition of the majority of the ground-level commercial assets in Bjørvika, Oslo. In total, the Madison acquires a total lettable floor area of 38,000 sq.m. in Bjørvika which, according to a press release, is a new CBD area in the Norwegian capital and the largest urban development project in Norway.

It is the third deal made by Madison in Norway, and the company acquires the development properties Sørenga and Sørengkaia, including parking facilities, in addition to entering an SPA to acquire Munch Brygge. The seller of the properties is Oslo S Utvikling which has also accepted a bid from Madison for commercial assets in Barcode and the northern parts of Bispevika.

According to press release, Madison has thus secured ownership and control of the majority of the ground floor properties in Bjørvika.

“The area has all the prerequisites for becoming Norway’s most attractive urban district. A successful implementation of the urban floor, through securing ownership of the properties in their entirety, is critical to optimize the area’s full potential. The developers, with OSU as the developer of Barcode, Bispevika North and Bispevika South in the forefront, have done a great job setting the scene for the urban floor,” Derek Jacobson, Co-CIO of Madison, comments.

The properties will be managed by Carucel Eiendom. The deal was facilitated by Arctic Securities.

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Arctic Securities

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