Aurora Eiendom AS

M&A Activity • Feb 28, 2022

Aurora Eiendom AS – acquisition of Buskerud Storsenter

Aurora Eiendom AS – acquisition of Buskerud Storsenter

Today, on 28 February 2022, Aurora Eiendom AS (the “Company” or “AURA”), as buyer, completed the acquisition of Buskerud Storsenter from Citycon Norway AS, as seller, at a property valuation of NOK 1,175 million.

Buskerud Storsenter has 59 stores and a gross turnover of NOK 1.2 billion (2021), being a leading shopping center in the region. More than 80,000 people live within a 15 minutes´ drive from the center, and the population is growing in the catchment area.

“We are glad to have completed the transaction and the takeover of the center management, and are now looking forward to start our work to further develop Buskerud Storsenter as a shopping destination”, says Lars Ove Løseth, CEO of Aurora Eiendom.

Buskerud Storsenter was completely renovated in 2017 with a new facade and expanded retail area, and consists today of 28.585 square meters over two floors. The center is anchored by well-known retailers like Coop Obs!, Clas Ohlson, Vinmonopolet, Cubus and H&M.

Buskerud Storsenter also sits on a large freehold of approximately 44.000 square meters along the Krokstadelva river, with significant development potential. There are plans for residential and commercial development of the area.

The Company´s partly owned management company Alti Forvaltning AS will ensure the management of the center, and have also entered into an agreement to manage Magasinet Kjøpesenter on behalf of Magasinet Drammen Invest AS, also located in Drammen municipality. These two shopping centers will be number 32 and 33 in Alti Forvaltning´s management.

With Buskerud Storsenter, the Company will own six shopping centers in Norway. The others are Vinterbro Senter in Ås municipality near Oslo, Amanda Storsenter in Haugesund, Nerstranda in Tromsø, Farmandstredet in Tønsberg and Nordbyen in Larvik. We will continue to invest in shopping centers with a leading position, attractive locations and an exciting offering of shops and services. Aurora Eiendom also owns a 50 per cent share of a leading real estate management company, Alti Forvaltning.

For more information, please contact:

Lars Ove Løseth, CEO

+47 928 17 859

lars.ove.loeseth@alti.no

Kathrine Mauset, CFO

+47 46 44 84 11

kathrine.mauset@alti.no

About Aurora Eiendom: With shops and services easily accessible under one roof, shopping centers improve and simplify people´s lives. Shopping habits are changing, but the need for people to meet and connect will always be there.

That´s why Aurora Eiendom invests in leading shopping centers in attractive locations with an exciting offering of shops and services. Our partly owned Alti Forvaltning gives Aurora access to the best management team in the market.