Citycon takes full control over three Norwegian centers

      Comments Off on Citycon takes full control over three Norwegian centers

Citycon has agreed to acquire the 31 percent minority stakes in Storbyen and Sjøsiden shopping centres in the Oslo region and Oasen shopping centre in Bergen for 31 million EUR from 4 minority shareholders.

Citycon already owned the 69% majority share in these shopping centres, which were part of the Sektor Gruppen acquisition in July 2015.

“The portfolio is in line with our focus on necessity-based shopping centres in urban locations. Full ownership will allow for more efficient administration and we see value-add potential in all the properties through further asset management initiatives”, says Nils Styf, Citycon’s Chief Investment Officer.