Technopolis Closes Oslo Acquisition
TECHNOPOLIS PLC STOCK EXCHANGE RELEASE December 11, 2013, at 2:00 p.m.
Technopolis Closes Oslo Acquisition
Technopolis has today completed an office campus acquisition in Fornebu in the Greater Oslo area, Norway. The campus was acquired by a joint venture (JV) of which Technopolis Plc owns 70% and the seller, IT Fornebu Properties AS (ITFP), owns 30%. Technopolis announced the signing of the deal on October 11, 2013.
The total value of the office campus is NOK 1.8 billion (approximately EUR 220 million). Technopolis announced on October 31, 2013 that is negotiating with Ilmarinen Mutual Pension Insurance Company about selling it a 19% share in the Fornebu campus. Co-investment negotiations with Ilmarinen are still in progress.
The net initial yield for the campus is expected to be 6.7%, and the stabilized yield is expected to exceed 7.7%. The current net market yield of the property is 6.4%.
For further information about the campus, please visit: www.technopolis.fi/fornebu-en.
Technopolis Plc
Keith Silverang
CEO
Tel. +358 40 566 7785
Sami Juutinen
Director, International Operations
Tel. +358 40 484 7487
About Technopolis
Technopolis Plc is a listed real estate company that specializes in leasing space and providing services. Its core business idea is to combine business support services with modern, flexible, multi-user business environments. There are approximately 26,000 people and almost 1,400 companies and organizations in Technopolis premises in Finland, Russia, Estonia, Lithuania and Norway. The company’s net sales for 2012 totaled EUR 107.3 million and its EBITDA was EUR 55.8 million. The Technopolis Plc share (TPS1V) is listed on NASDAQ OMX Helsinki.
Distribution:
NASDAQ OMX Helsinki
Main news media
www.technopolis.fi
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