DNB Markets acquires Bane NOR SFs new headquarter in Schweigaards gate 33 on behalf of the investors in SWG33 Invest AS
The project received strong investor interest and was substantially oversubscribed.
Schweigaards gate 33 is located in CBD East (Bjørvika), 5 minutes from Oslo central station. The state of the art building with BREEAM Excellent standard certification is set to be finalized in February 2019. The property will serve as Bane NOR SFs new headquarter where the state owned company have signed a 10-year contract. The building is a highly flexible office building over 8 floors and a total of 22,700 m2 BTA.
DNB Markets ensured a conservative financing structure in order to mitigate risk for investors. Loan-to-value was set to 60%, which also enabled a locked “all-in” financing cost of ~3.2% over the first five years of the project. The financing is provided by an international bank. The financing along with a Norwegian State Credit counterpart leasing on a long-term contract and the building being located only 5 minutes from Norway’s largest traffic hub makes the deal highly robust.
DNB received strong interest from their “family office” customers, where the deal was oversubscribed by more than 50% in pre-sound period The transaction is among the three largest equity placements in the real estate project market over the last 10 years and proves DNB Markets unmatched placing power.
DNB will also like to thank the seller, Bane NOR Eiendom, for a good process. Sell-side advisor: Malling & Co., Legal DD: Wikborg Rein, Financial DD: Axera and Technical DD: Caverion.