It has been agreed to acquire the SZ Tower for approximately EUR164 million, or NOK1.35 billion, from German publicly listed Prime Office REIT-AG further expanding the existing partnership. NBIM’s 50% share will be EUR82 million. The asset is a 28 storey, 62,000 sqm high quality office tower which is fully let on a long term basis. The transaction is set to complete before year end.
NBIM entered the German market at the end of 2012 through a joint venture with AXA Real Estate purchasing the two assets “Die Welle” and "Neues Kranzler Eck".