Norwegian Property, Fredensborg and Union Real Estate Fond III completed the acquisition of Veidekke Eiendom for $798m.

Real estate investors Norwegian Property, Fredensborg and Union Real Estate Fond III, completed the acquisition of Veidekke Eiendom, a residential real estate developer in Norway, for $798m. “The investment is in line with Norwegian Property's communicated ambitions and strategy for growth, and the Group's low LTV is a good platform for investments. We consider this a good opportunity for Norwegian Property to further develop the business in collaboration with industrial and financial partners with whom we can share the development risk. We are very pleased with the acquisition of a company with competent employees and a large site bank with many, well-advanced projects in both Norway and Sweden,” Bent Oustad, Norwegian Property CEO.