AF Gruppen

M&A Activity • Mar 25, 2022

Final agreement signed on the sale of Karvesvingen 7

Final agreement signed on the sale of Karvesvingen 7

With reference to the notice to the stock exchange on February 11, 2022.

Hasle Linje Næring DA, a company of which 49.5% is owned by AF Gruppen, 49.5% by Höegh Eiendom and 1% by Vind AS, has entered into a final agreement on the sale of all the shares in the Karvesvingen 7 AS company, which owns the building at the same address. The buyer is Christiania Areal, owned 100% by Reitan Eiendom.

Karvesvingen 7 is a combined hotel and office building with a gross area of approximately 21,000 square metres, and the main tenants are Nordic Choice Hotels, Sterk, and NENT, who both took up occupation in 2021. The building has been constructed by AF Gruppen and achieved a BREEAM-NOR environmental classification of Very Good.

The sale is estimated to provide AF Gruppen with an accounting gain of at least NOK 60 million. The transaction is expected to be completed April 1st, 2022.

For further information:

Ida Aall Gram, EVP Property at AF Gruppen, tel.: +47 918 00 826

Sverre Hærem, CFO of AF Gruppen, tel.: +47 952 45 167