Entra

M&A Activity • Jan 27, 2021

Acquisition of Lagårdsveien 6 in Stavanger

27.1.2021 12:04:18 CET | Entra ASA | Additional regulated information required to be disclosed under the laws of a member state

Entra has called an option to acquire the property Lagårdsveien 6 for 126 million, while Newsec, one of Entra's external valuers, has estimated the fair market value at 313 million. The property is located in the city centre of Stavanger. The property totals approximately 13.600 sqm and is fully let to the Southwestern Police district with a remaining lease of approximately 1.1 yrs (option to extend the lease 5 years on same terms).

Entra plans to develop the asset into an attractive office product together with the current tenant. The transaction is in accordance with Entra's strategy of growth in central areas of the largest cities in Norway. The transaction was completed in January 2021.

Disclaimer

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contacts

Anders Olstad, CFO, +47 90022559, ao@entra.no

About Entra ASA

Entra is a leading owner, manager and developer of office properties in Norway. Entra owns and manages around 90 buildings totalling approximately 1.3 million square meters, located in Oslo and the surrounding region, Bergen, Stavanger and Trondheim. Entra has a solid customer portfolio with a high proportion of public tenants. The company's strategy is focused on delivering profitable growth, high customer satisfaction and environmental leadership

Attachments

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