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Statoil European HQ in Oslo, Norway sells for EUR430 million


London, 5 February 2013 – Jones Lang LaSalle and Norwegian affiliate partner firm Akershus Eiendom confirm that they have advised ITFP, a Norwegian company, on the sale of the Statoil Regional HQ in Oslo, Norway.

The 65,000 sqm office building was acquired by a syndicate of investors, arranged by Arctic Securities, a Norwegian investment bank. The completed sale in the region of EUR430 million was Norway’s second largest single-asset real estate transaction in 2012.

US investor Madison International Realty assumed a senior role in the purchasing syndicate and provided 35% of the equity.

Peter Hensby, Director, European Capital Markets, Jones Lang LaSalle said: “Oslo is one of the fastest growing and wealthiest cities in Western Europe. Norway real estate has a very compelling investment story for both international and domestic buyers.”
The building was completed in September 2012 and is 100% leased to Statoil on a 15 year term.

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About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit www.jll.com.