PPI acquires Damsgårdsveien 106 in Bergen

27 Jan 2025 14:03 CET

Public Property Invest ASA ("PPI") has signed an agreement to acquire the
Njord Syndicate Bergen Kommunebygg AS which owns the property Damsgårdsveien
106 in Bergen. The transaction is based on a total property value of NOK 130.6
million. The property is approximately 4.100 sqm and is fully let to the
Municipality of Bergen and the University of Bergen. Annual rental income is
NOK 8,54 million and the lease contracts has an average unexpired lease term
of 11 years.

"PPI's strategy is to grow by being a leading consolidator of social
infrastructure properties in the Nordics and this transaction in Bergen is
aligned with the strategy. The property houses a specialized care center and
an archive, and the transaction is done on an attractive yield", says Ilija
Batljan, CIO.

The transactions will be settled through a combination of assuming existing
debt of NOK 85 million and cash. The transaction is expected to close on 14
February 2025.

Contact: Ilija Batljan, CIO, ilija@publicproperty.no

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