Entra has signed an agreement to acquire Skanska Commercial Development`s ("Skanska") 50 % share of Sundtkvartalet in Oslo, and thus to become single owner of the property. The transaction is based on a property value of NOK 1,590 million. Sundtkvartalet is a new office property of 31,300 sqm which was finalised in December 2016. The development of the property has been organised through a joint venture where Entra and Skanska owns 50 % each.

The transaction is in line with Entra`s strategy of growth in central areas of the largest cities in Norway. The property is located a few minutes walk from the Central Station in Oslo, in an exciting area of the city which is under development. The property is 92 % let to high quality tenants, including Skanska, IBM, Manpower and KnowIT, with an average remaining lease term of 8 years.

"We have a very positive outlook on the area around the Central Station in Oslo, and we are pleased to become the single owner of this high quality, flexible and environment friendly property" said Arve Regland, Entra`s CEO.

Closing is expected to take place on 30 September 2017.

For further queries please contact: Arve Regland, CEO Entra ASA, tel: +47 479 07 700, email: ar@entra.no

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Source: Entra ASA via GlobeNewswire
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