Heilo assisted Ferd Eiendom in the acquisition of HH1

Ferd has acquired Hieronymus Heyerdahls gate 1 in central Oslo.

The property is located right next to the City Hall and has been owned by the CBRE Global Investors fund since autumn 2016. The fund has now sold the property on to Ferd Eiendom. According to Finansavisen, the investment company paid well over NOK 1 billion for the CBD property.

"Owners of such centrally located CBD properties often take a perpetual view of ownership, but Hieronymus Heyerdahls gate 1, also known as HH1, has been owned by a global fund since 2016. The transaction was done off-market and the parties have been in close dialogue over a long period," says Stian Levi Andresen of Ferd Eiendom.

Heilo Eiendom advised Ferd Eiendom on the acquisition of the property. Ro Sommernes acted as legal adviser and Harboe as financial adviser to the buyer. CBRE Capital Markets and BAHR advised the seller.

According to Ferd, several of the current tenants have renegotiated and extended their leases, but there will also be some vacant space on the top three floors at completion on 30 September. Ferd will now refurbish this space to a state-of-the-art standard before it is let. Work will also begin to revitalise the ground floor.

"The property is located within the car-free city centre, facing a unique urban space that offers the opportunity to create activity and content for the enjoyment of tenants, neighbours and visitors.

With the opening of the new National Museum, which is expected to attract around 1 million visitors a year, conditions are right for successful and exciting concepts at street level," Stian Levi Andresen continues.

The article is taken from Estatenyheter.no