Entra

Regulatory Filings • Nov 18, 2019

Entra ASA: Acquires development property in Bergen

Entra ASA: Acquires development property in Bergen

Entra has acquired the property Møllendalsveien 6-8, located in Entra's existing

property cluster and nearby Media City Bergen , for a property value of NOK 400

mill. Møllendalsveien 6-8 is a 14,500 sqm office property with an annual rent of

NOK 26,4 mill. The average lease contract duration is approximately 1.2 year.

Entra plans to re-develop the asset into an attractive office product when the

existing lease contracts expire. The transaction is in accordance with Entra's

strategy of growth through property development in central areas of the largest

cities in Norway.

"The property has an interesting development potential, and we have a positive

outlook on the property market in Bergen. We are therefore very pleased to

further strengthen our position here" said Sonja Horn, Entra's CEO.

The transaction is expected to close on 2 December 2019.

For further queries please contact: Sonja Horn, CEO Entra ASA, tel:

+47 905 68 456, email: sh@entra.no (mailto:sh@entra.no). This information is

subject to the disclosure requirements pursuant to section 5-1