AF Gruppen — M&A Activity 2015

Dec 10, 2015

AF Gruppen sells commercial building in Gothenburg

AF Gruppen sells commercial building in Gothenburg

Today AFG Invest 5 AS has entered into an agreement

for the sale of AF Fastighet 1380 AB and its

underlying property Göteborg Brämaregården 79:1

(Glasiären).

AF Gruppen Norge AS owns 1/3 of AFG Invest 5 AS. Other

participants in the investor group are EKO Eiendom 1

AS (1/3) and Brødrene Jensen AS (1/3.)

Glasiären is a newly-erected commercial building in

Gothenburg with a lease area of approx. 12,400 sqm

across five floors with offices, retail space and a

training centre, as well as basement parking. The

building is 100% leased on long contracts with a

majority of public sector tenants. The property is

valued at SEK 500 million.

Glasiären was erected as a turnkey contract by AF Bygg

Göteborg and built according to the Silver standard

under the Swedish environmental building certification

system Miljöbyggnad, with tough requirements to energy

efficiency and sustainability. The building has a

unique architectural expression and is in the heart of

the new Kvillebäcken, one of the future hubs of the

new Gothenburg. On the neighbouring lots, development

of a total of 2,000 flats is coming to a close.

"We are proud of having developed and built an

attractive landmark in an exciting area of Gothenburg

in cooperation with our partners, and take note that

interest in this building in the sale stage has been

considerable," says Morten Grongstad, CEO of AF

Gruppen.

For further information:

CEO/President Building: Morten Grongstad, tel. +47 99

15 39 05

EVP Property: Andreas Jul Røsjø, tel. +47 48 19 69 98