Public Property Invest

M&A Activity • Jan 27, 2025

PPI acquires Damsgårdsveien 106 in Bergen

PPI acquires Damsgårdsveien 106 in Bergen

Public Property Invest ASA ("PPI") has signed an agreement to acquire the

Njord Syndicate Bergen Kommunebygg AS which owns the property Damsgårdsveien

106 in Bergen. The transaction is based on a total property value of NOK 130.6

million. The property is approximately 4.100 sqm and is fully let to the

Municipality of Bergen and the University of Bergen. Annual rental income is

NOK 8,54 million and the lease contracts has an average unexpired lease term

of 11 years.

"PPI's strategy is to grow by being a leading consolidator of social

infrastructure properties in the Nordics and this transaction in Bergen is

aligned with the strategy. The property houses a specialized care center and

an archive, and the transaction is done on an attractive yield", says Ilija

Batljan, CIO.

The transactions will be settled through a combination of assuming existing

debt of NOK 85 million and cash. The transaction is expected to close on 14

February 2025.

Contact: Ilija Batljan, CIO, ilija@publicproperty.no