Malling Acquires Akersgata 51 from Nrep

Nrep has completed a full-scale renovation of Akersgata 51, transforming it into a modern, energy-efficient office building. On May 6, ownership of the historic property will be transferred to a Malling-managed fund. 

Nrep acquired Akersgata 51, located near the new Norwegian Government Quarter, two years ago via Nordic Strategies Fund V (NSF V). Since then, the company has undertaken a comprehensive refurbishment of the nearly 18,000 square meter building, leasing out a significant portion with a focus on quality and sustainable solutions. This marks the first exit from the NSF V fund.

As Nrep now divests the property to Malling, the company emphasizes that they are handing over a high-standard building with strong tenants. During Nrep’s ownership, the area around the Government Quarter has become increasingly attractive.

The buyer is Malling Core Plus II, a fund managed exclusively on behalf of the Gjensidige Group.

“We are very pleased with the acquisition of Akersgata 51 – a well-designed building of high quality in a prime location, right next to the new Government Quarter,” says Mads Mortensen, Managing Partner at Malling Investment Management.

The parties have agreed to keep the purchase price confidential.

An Area Undergoing Rapid, Positive Transformation
“Akersgata 51 was part of our first office investment in Norway and has played a key role in our portfolio. The refurbishment focused on sustainability and reuse, in line with our goals and investment strategy. We are proud to have elevated Akersgata 51 into a high-quality office building in an area undergoing positive development, and we’re pleased to have reached an agreement with a long-term owner who will continue to manage and develop the property,” says Harald Haakonsen, Investment Director at Nrep.

Less than two years after the renovation, the building has achieved significant energy savings, in part through façade upgrades and extensive reuse of materials.

Rystad Energy Among Tenants
The nine-story building is leased to multiple businesses. Most recently, Rystad Energy moved into the premises in March. The consultancy firm is the building’s largest tenant, occupying nearly 6,500 of the total 17,800 square meters.

In addition to office space, Akersgata 51 also houses a large Sats fitness center and offers strong potential for outward-facing commercial activity at street level.