Newsec acquires Tjuvholmen Drift AS

Press releases   •   Jun 26, 2019 10:48 CEST

Newsec acquires 100 percent of the shares in Tjuvholmen Drift AS from Selvaag Eiendom as of 2 July 2019. With this, Newsec further strengthens its operations in Oslo.

“Through the acquisition of Tjuvholmen Drift's portfolio of approximately 300.000 square meters, we get a good foundation for further growth and development of professional management and advisory services. Newsec has 30 years of experience from national and international management assignments, and together with Tjuvholmen Drift we are positioned to handle future technological and market demands from clients. With a unique expertise and ability to deliver, both existing and new clients can be confident that they will be well catered for with us”, says Hilmar Auran, Head of Newsec Property Asset Management in Norway.

“Management and employees in Tjuvholmen Drift will help to increase the level of service and the breadth of deliveries to clients in the Oslo market. The operation of increasingly complex technical facilities in commercial buildings requires great focus and broad expertise. A collaboration with an international player such as Newsec enables Tjuvholmen Drift to manage and develop an even better product for our tenants and customers”, says Director of Commercial Property Management Bjørn Bratt Aanensen in Selvaag Eiendom.

Newsec is a partner-owned company with some 1 800 co-workers in all Nordic and Baltic countries. Newsec has approximately 28.3 million square meters under management and annually signs lease agreements of some 1 million square meters. In Norway, Newsec is the largest player in external property asset management with its 250 employees in 9 offices.

Selvaag Eiendom has owned Tjuvholmen Drift AS since its establishment in 2007. The business is mainly related to the management and operation of common areas and technical facilities at Tjuvholmen in Oslo, in addition to the technical management and operation of commercial properties in Selvaag Eiendom's portfolio. Tjuvholmen Drift has 22 employees and had a turnover of MNOK 24.4 in 2018.

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services within Advisory and Property Asset Management. Newsec was founded in 1994 and is today a partner-owned company with some 1 800 co-workers spread across the seven Nordic and Baltic countries. In 2018, Newsec opened a London office to assist international investors interested in the Nordic and Baltic region. Newsec has approx. EUR 45 billion under management and annually signs lease agreements of approx. 1 million square meters, manages transactions of some EUR 3.3 billion and does real estate valuations of underlying property worth almost EUR 165 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Newsec acquires 100 percent of the shares in Tjuvholmen Drift AS from Selvaag Eiendom as of 2 July 2019. With this, Newsec further strengthens its operations in Oslo.

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Newsec and Aberdeen Standard Investments enter new property management agreement

Press releases   •   Jun 18, 2019 07:00 CEST

Newsec has signed a comprehensive property management agreement with Aberdeen Standard Investments regarding their total property portfolio in Sweden of approximately 300,000 square meters. The procurement has taken place in tough competition, with great focus on finding a management partner that matches Aberdeen Standard Investments' high demands on quality and local presence for a real estate portfolio in constant change.

The agreement consists of a comprehensive property management solution including financial, commercial and technical management starting October 1, 2019.

“I am very proud of this new assignment and look forward to a developing cooperation with Aberdeen Standard Investments. Our experience of successfully managing real estate in all segments and in several locations has been a strength in this procurement and an acknowledgment that our organization can undertake large assignments with high complexity. ”Says Mattias Johansson, head of Newsec Property Asset Management in Sweden.

Aberdeen Standard Investments’ portfolio consists of properties in the retail, office, logistics and residential segments in Stockholm, Gothenburg, Malmö, Linköping and Örebro.

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services within Advisory and Property Asset Management. Newsec was founded in 1994 and is today a partner-owned company with some 1 800 co-workers spread across the seven Nordic and Baltic countries. In 2018, Newsec opened a London office to assist international investors interested in the Nordic and Baltic region. Newsec has approx. EUR 45 billion under management and annually signs lease agreements of approx. 1 million square meters, manages transactions of some EUR 3.3 billion and does real estate valuations of underlying property worth almost EUR 165 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Newsec has signed a property management agreement with Aberdeen Standard Investments regarding their total property portfolio in Sweden of approximately 300,000 sqm. The procurement has taken place in competition, with great focus on finding a management partner that matches Aberdeen Standard Investments' high demands on quality and local presence for a real estate portfolio in constant change.

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Newsec and Logicor to enter into a property management service agreement covering more than a million square meters

Press releases   •   Jun 13, 2019 17:06 CEST

The service agreement includes all of Logicor's approximately 80 properties in Finland, covering a total area of more than a million square metres.

"We started negotiations with Logicor in the spring and quickly came to an understanding regarding the service package.I am thrilled that we can offer Logicor high-quality property management services," says Miro Karttunen, Head of Newsec Property Asset Management in Finland.

Newsec provides a similar service package for Logicor's 200,000 m2 portfolio in Sweden.

"We were looking for a comprehensive property management service and have been very satisfied with our cooperation in Sweden. We are looking forward to our cooperation in Finland as well as a potential synergy between our Finnish and Swedish operations," says Jorma Lehtonen, Managing Director of Logicor Nordics.

The new agreement includes technical management, lease management, leasing and project management services. Logicor's property portfolio comprises significant properties all over Finland, which are supported by Newsec's wide network of regional offices.

"Property investments require local presence and expertise. Newsec's wide network of offices plays a crucial role in this," says Lehtonen.

This client relationship will widen Newsec's network even further.

"We will be opening an office in Lahti in the autumn, and decisions regarding other new offices will be made then. I believe we will be opening two or three new regional offices early next year at the latest," says Karttunen.

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services within Advisory and Property Asset Management. Newsec was founded in 1994 and is today a partner-owned company with some 1 800 co-workers spread across the seven Nordic and Baltic countries. In 2018, Newsec opened a London office to assist international investors interested in the Nordic and Baltic region. Newsec has approx. EUR 45 billion under management and annually signs lease agreements of approx. 1 million square meters, manages transactions of some EUR 3.3 billion and does real estate valuations of underlying property worth almost EUR 165 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Newsec and Logicor, Europe's largest owner and operator of modern logistics and warehouse properties, have entered into a significant property management service agreement.

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Mikko Tenhola appointed Head of Newsec Advisory in Finland

Press releases   •   Mar 18, 2019 12:41 CET

Mikko Tenhola has been appointed as the new Head of Newsec Advisory in Finland from August 1, 2019. He joined Newsec in 2009 and has been deputy Head since 2017. The current Head Juhani Reen will retire at the end of 2019.

Morten Jensen appointed new Head of Newsec Advisory in Denmark

Press releases   •   Mar 06, 2019 10:00 CET

Morten Jensen has been appointed Head of Newsec Advisory in Denmark. He takes office on March 1 and replaces Henrik Lyngskjold who, after 12 successful years, has requested to leave his position.

Newsec Property Outlook Spring 2019: (Co-)working 9 to 5 – is that the new way to make a living?

Press releases   •   Mar 06, 2019 08:16 CET

The total coworking stock in the Nordic and Baltic countries has grown by 36 percent from 2017 to 2018. Following this strong growth, the amount of coworking space will continue to increase by another 24 percent in 2019, up to 680,000 square meters. Coworking as a share of the total office stock will also continue to grow. These figures are available in the latest issue of Newsec Property Outlook.

Newsec advisor in largest office transaction ever in the Baltics

Press releases   •   Feb 15, 2019 08:08 CET

Newsec has acted as advisor in the sale of the S7 office complex in the CBD of Vilnius, Lithuania. The Lithuanian real estate development company M.M.M. projektai sells the office complex to Swedish Eastnine AB for 128 million Euros, making it the largest office transaction ever in the Baltics.

The S7 office complex consists of four buildings. Three of these building, with a total office space of 42.500 square meters gross leasable area, are part of the deal. The transaction of the first building, called DC PIER, takes place this week while the transaction of the second and third building will take place in Q2 and Q3 of 2019 respectively.

This transaction is an important milestone for the Baltic commercial real estate market, primarily due to its large size. It highlights the improved liquidity of the market, supported by a strong demand from both international and local investors, especially for quality products in CBDs. The Baltic region looks very solid and still offers a very attractive price/yield gap compared to investments with similar quality and risk profile“ says Max Barclay, Head of Newsec Advisory.

The S7 office complex has received several international accreditations and awards. The first building is occupied by Danske Bank global services and has been selected the best office building in Central and Eastern Europe. It has also been certified Excellent by BREEAM New Construction, the first such achievement is the Baltics. The second building is occupied by Swedish telecommunication company Telia. The third building, which is still under construction, is fully pre-leased to Danske Bank global services.

The successful development and sale of the S7 complex is an important milestone for M.M.M. projektai as a developer. In the development phase our main focus was on creating the best product possible, including the highest environmental standards and modern engineering solutions. We dedicated a lot of attention and passion to this project and we are proud about the numerous awards it has received. We are also proud of the international tenants who we attracted early on” says Diana Dominiene, Chairman of M.M.M. projektai.

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services within Advisory and Property Asset Management. Newsec was founded in 1994 and is today a partner-owned company with some 1 800 co-workers spread across the seven Nordic and Baltic countries. In 2018, Newsec opened a London office to assist international investors interested in the Nordic and Baltic region. Newsec has approx. EUR 45 billion under management and annually signs lease agreements of approx. 1 million square meters, manages transactions of some EUR 3.3 billion and does real estate valuations of underlying property worth almost EUR 165 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Newsec has acted as advisor in the sale of the S7 office complex in the CBD of Vilnius, Lithuania. The Lithuanian real estate development company M.M.M. projektai sells the office complex to Swedish Eastnine AB for 128 million Euros, making it the largest office transaction ever in the Baltics.

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Investment demand remaining strong in Finnish property market - Newsec Finnish Property Outlook Spring 2019

Press releases   •   Feb 13, 2019 11:50 CET

The latest issue of the Newsec Finnish Property Outlook shows that property investment prices in Finland have not fluctuated with the stock market but experienced steady growth, and the number of transactions will again be higher than normal this year.

Newsec Advisor when Nordea Liv sells Property in Oslo Suburb

Press releases   •   Dec 19, 2018 15:00 CET

Newsec has acted as advisor to Nordea Liv in a transaction with the Swiss real estate fund UBS (CH) Property Fund Europe, covering the sale of care homes and a business area in Sandvika, just outside Oslo. The sale price for the two properties amounts to NOK 430 million.

The two properties are located in the center of Sandvika and have a total gross area of approx. 11 700 sqm, including a parking garage with some 100 lots, as well as 50 apartments. The area distribution between residential care and retail sections is approx. equal. Nordea Liv has owned the properties since 1999.

"The sale gives us scope for new purchases in an exciting real estate market. We use a good market to gain a profit from this sale", says the Investment Director for property in Nordea Liv, Nils Arne Gundersen

The investment in Sandvika is the first move by the UBS fund in Norway.

“We are very excited to announce this deal which is historic in the sense that it’s UBS’s re-entry on the Norwegian market. Nordea Liv is an important player on the real estate market and we feel honoured to get their trust once again”, says Håkon Styrvold, Head of Capital Markets, Newsec Advisory in Norway.

About Nordea Liv

Nordea is the Nordic region's largest financial group. Nordea Liv Norge offers life and pension insurance to businesses and private customers. Total assets totaled NOK 123.4 billion, distributed by NOK 50.8 billion in customer portfolios for products with interest guarantee, NOK 62.1 billion in the customer portfolio for products with investment choices and NOK 10.4 billion in the owner's portfolio.

The proportion of property in the guarantee portfolios at the end of the third quarter of 2018 was 12.2 per cent, which amounted to approx. NOK 6.2 billion. Real estate investment yielded a return of 7.4 per cent in the third quarter of 2018.

About UBS (CH) Property Fund Europe

UBS (CH) Property Fund Europe is managed UBS Asset Management Real Estate & Private Markets (REPM). REPM has invested ca. 106 billion US dollar on behalf of its clients in 22 countries worldwide. More than 2,100 assets are actively managed by 550 experts in 14 countries.

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services within Advisory and Property Asset Management. Newsec was founded in 1994 and is today a partner-owned company with some 1 700 co-workers spread across the seven Nordic and Baltic countries. In 2018, Newsec opened a London office to assist international investors interested in the Nordic and Baltic region. Newsec has approx. EUR 37 billion under management and annually signs lease agreements of approx. 1.3 million square meters, manages transactions of some EUR 3 billion and does real estate valuations of underlying property worth almost EUR 140 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Newsec has acted as advisor to Nordea Liv in a transaction with the Swiss real estate fund UBS (CH) Property Fund Europe, covering the sale of care homes and a business area in Sandvika, just outside Oslo. The sale price for the two properties amounts to NOK 430 million.

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Newsec Acts as Advisor in Shopping Center Deal Worth 47 million Euros

Press releases   •   Dec 07, 2018 07:00 CET

Newsec has acted as the advisor in the sale of the RYO shopping center in Panevezys, Lithuania. The total retail space of 24,2 thousand sqm currently houses 132 tenants. The Finnish family owned company Pontos, sold the shopping center to EfTEN Real Estate Fund 4 for 47 million Euros, making it one of the largest real estatetransactions in the Baltics this year.

RYO is a thriving example of the positive impact of active, long-term ownership in the RE business. The shopping centre underwent a complete modernisation over a period of seven years in collaboration with the local operator. Contracts with new anchor tenants were confirmed, the shopping centre was expanded, its building services were brought up to date and the entire commercial image was refreshed. All retail spaces have been let since the modernization and the rental revenues of RYO have shown a steady increase over the years. RYO has boldly established its market position as the leading shopping centre in Panevezys.

“Today, when there is uncertainty concerning the future of retail stores due to the growing impact of e-commerce, it is important to emphasize the key difference of the Baltic markets where consumer spending is among the lowest in Europe, while consumption growth is one of the highest. Our statistical data shows that retail stores in small towns often demonstrate better results than some of their counterparts in the capitals. All these factors offset the impact of e-commerce“, says Neringa Rastenyte-Janciuniene, Head of Capital Markets, Newsec Advisory in the Baltics.

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services within Advisory and Property Asset Management. Newsec was founded in 1994 and is today a partner-owned company with some 1 700 co-workers spread across the seven Nordic and Baltic countries. In 2018, Newsec opened a London office to assist international investors interested in the Nordic and Baltic region. Newsec has approx. EUR 37 billion under management and annually signs lease agreements of approx. 1.3 million square meters, manages transactions of some EUR 3 billion and does real estate valuations of underlying property worth almost EUR 140 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Newsec has acted as the advisor in the sale of the RYO shopping center in Panevezys, Lithuania. The total retail space of 24,2 thousand sqm currently houses 132 tenants. The Finnish family owned company Pontos, sold the shopping center to EfTEN Real Estate Fund 4 for 47 million Euros, making it one of the largest real estatetransactions in the Baltics this year.

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About Newsec

The Full Service Property House in Northern Europe

Newsec – the Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services within the areas of Property Asset Management and Advisory.