Storgata, Oslo, Norway


Investment Date
Q1 2015

Exit Date
Q2 2017
(Fully Realised)

Asset type
City centre mixed use

Revcap strategy
Part pre-let development and refurbishment

Revcap Fund

Investment Type
Joint Venture Equity

Background and Opportunity

  • Purchase of near vacant 6,500m² mixed office and retail property in a good location in central Oslo from an institutional owner holding out for a single tenant
  • Revcap’s involvement was contingent on our JV partner securing 50% pre-lets
  • The business plan was to extensively renovate the property prior to leasing up on a multi-let basis and holding the end investment

Transaction Progress

  • The JV secured c. 60%+ pre-lets and the renovation was commenced

Current Status

  • After an opportunistic approach, the investment was sold to a local investor in Q2 2017 at a level materially ahead of underwriting


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