Fund disposes office property in Munich

The partnership between Norges Bank Real Estate Management and AXA France has signed an agreement to sell the SZ Tower located on Hultschiner Strasse 8 in Munich.

20 February 2018

The agreement was signed on 20 February 2018, with completion expected within the next two months.

Norges Bank Real Estate Management will receive 122.1 million euros for its 50 percent ownership interest. The property was acquired by the partnership in November 2013.

The buyer of the property is a subsidiary of Art-Invest Real Estate.

The property comprises 62,200 square metres of lettable space.

PRESS CONTACT

Line Aaltvedt
Advisor, Communications and External Relations
Norges Bank Real Estate Management
Tel: +47 948 54 656
Email: lhl@nbrem.no