Public Property Invest

PPI acquires Nordnesbodene in Bergen

Public Property Invest ASA ("PPI") has acquired the property Nordnesbodene 3-5

in Bergen for a total property value of NOK 82 million.

The property is approximately 4,760 sqm and has a seaside location at Nordnes

in central Bergen. The property is fully let to The Institute of Marine

Research which is one of the biggest marine research institutes in Europe. The

annual rental income is NOK 7.7 million, and the lease contract has an

unexpired lease term of 7 years.

"PPI has a clear strategy to grow by being a leading consolidator of social

infrastructure properties in the Nordics. This property is centrally located

in Bergen, house a solid public tenant and is situated next to one of our

existing portfolio properties", says Ilija Batljan, CIO of PPI.

The transaction will be settled through a combination of assuming existing

debt of NOK 53 million and cash. The transaction is expected to close on 2 May

Contact

Ilija Batljan

CIO

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