OSLO, Norway—Madison International Realty, aNew York-based investment company, has completed the acquisition ofan additional 59.5% interest in the Statoil officecomplex in Oslo, Norway for approximately $110million (NOK 680M).
Announcement of the deal follows news earlier this week ofMadison increasing its stake in an Oslo department storepartnership.
Madison acquired its original 35% equity stake in the buildingin 2012, which represented the second largest single assettransaction in the Norwegian market of the year. Madison's further59.5% interest comprises a 30.0% equity stake thatit has acquired from Koksa, a Norwegian PLCformerly known as IT Fornebu, and a 29.5% stakepurchased from various individual investors. This brings Madison'stotal equity stake in the asset to above 90%.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
