The first four centres are signed and acquired from Steen & Strøm (Klépierre / ABP) / KLP. Aurora Eiendom has also signed a letter of intent (LOI) to acquire a fifth large Norwegian shopping centre at ca. NOK 1.8bn from an institutional owner. The five centres have a total gross lettable area of 109,000 sqm and an annual footfall of approx. 13.5m.
In total, a directed equity issue close to NOK 1.4bn has already been pre-subscribed by 11 cornerstone investors. An additional NOK +600m will be raised in a private placement in June. Aurora Eiendom is supported by leading Norwegian banks (DNB and four savings banks in SpareBank 1-alliansen). The company has growth ambitions and is planning to list on Euronext Growth in Oslo, during 2021.
Pangea’s team consisted of: Håvard A. Nustad, Bård Bjølgerud, Erik Høvik, Sondre Aarseth Skjerven, Aleksander Lee Olsen and Elias Wiklund.