Artel Kapital and Reitan Eiendom establish Aspelin Reitan Eiendom to combine Oslo real estate portfolios

"Law firm CLP advised Artel Kapital AS as Artel Kapital and Reitan Eiendom set up Aspelin Reitan Eiendom, a 50/50 joint venture consolidating Aspelin Eiendom and Reitan Eiendom portfolios in Oslo. The platform holds about NOK 19 billion in assets (c.565,000 sqm; ~60% of value inside Ring 2) with expected annual rental income of c. NOK 1 billion."

Law firm CLP advised Artel Kapital AS in the transaction. Artel Kapital AS and Reitan Eiendom AS are establishing Aspelin Reitan Eiendom, a combined real estate platform with a total property value of approximately NOK 19 billion. The new company will be owned 50/50 by Artel Kapital and Reitan Eiendom and will be responsible for developing, managing and operating the combined portfolios of Aspelin Eiendom and Reitan Eiendom in Oslo. Aspelin Eiendom’s portfolio comprises landmark projects including Vulkan, Via Vika, Sommerro and The Thief. Reitan’s holdings within Christiania Areal include properties such as Schweigaards gate 33, Trelastgården and Karvesvingen 7. In total, the new company will manage approximately 565,000 square metres, with around 60 percent of the property values located within Oslo’s Ring 2. The combined annual rental income is expected to be around NOK 1 billion. CLP represented Artel Kapital AS with a team composed by: Dr. juris Niels Kristian Axelsen, Edvard Cock, Håvard Skogvoll, Sigrid K. Gjertsen Ertzaas, Sverre Saugstad, Stian Lockert, Frida Busund, Magdeli Støten and Dagný E. Eiríksdóttir-Hansen.

Artel Kapital and Reitan Eiendom establish Aspelin Reitan Eiendom to combine Oslo real estate portfolios

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