Divestment of four properties for NOK 1.9 billion

21 Dec 2022 09:00 CET

21.12.2022 09:00:00 CET | Entra ASA | Additional regulated information required
to be disclosed under the laws of a member state

Entra has sold the properties Konggata 51, Karenslyst Allé 8A, Karenslyst Allé
8B and Sørkedalsveien 6 for a total transaction value of NOK 1.9 bn, which is
two per cent below book values as of 30.09.22.

Konggata 51 is located in Drammen whilst Karenslyst Allé 8A, Karenslyst Allé 8B
and Sørkedalsveien 6 are located in Oslo, respectively at Skøyen and Majorstua.
The properties total 34,000 sqm with full-year gross rental revenues of
approximately 85 million. The three Oslo properties were acquired by Entra in
the Oslo Areal portfolio transaction which closed earlier in 2022.

The divestment processes were initiated during the summer and autumn of 2022,
and there has been significant buyer interest for all four assets. The
properties will be acquired by three different buyers; a Norwegian privately
held real estate company, a Norwegian family office, and an international PE
fund. The transactions are in accordance with Entra's strategy to focus the
portfolio on large, flexible office buildings in selected clusters close to
public transportation hubs and to divest non-core assets. The proceeds will be
used to strengthen Entra's balance sheet.

The transactions involving the assets at Skøyen and in Drammen are closing in
December 2022 and the sale of Sørkedalsveien 6 will be closed during Q2 2023.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Anders Olstad, CFO, +47 900 22 559, ao@entra.no

ABOUT ENTRA ASA

Entra is a leading owner, manager and developer of office properties in Norway.
Entra owns and manages around 107 properties totalling approximately 1.6 million
square meters, located in Oslo and the surrounding region, Bergen, Trondheim and
Stavanger. Entra has a solid customer portfolio with a high proportion of public
tenants. The company's strategy is focused on delivering profitable growth, high
customer satisfaction and environmental leadership

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/16126567/1985/2661/Download%20announcement
%20as%20PDF.pdf

More information:
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