Visualisation of the office building in Universitetsgaten 7-9. Photo: Entra.
29 Mar 2019
NIB lends to Entra to construct sustainable buildings in Norway
NIB and the Norwegian property owner Entra ASA have agreed a loan of NOK 1,500 million (EUR 155 million) with a tenor of eight years for the development and construction of three BREEAM-NOR Excellent certified office buildings in Norway.
The 8-year loan will fund three office buildings, two in Oslo and one in Trondheim. The buildings will be certified Excellent, the second highest certification level under the BREEAM-NOR standard for green buildings. The total floor area of the three buildings is 56,200 m2, and the buildings will be completed between 2019 and 2021.
The first of the Oslo buildings is a 22,700 square-metre campus space for the Faculty of Law of the University of Oslo in Tullinkvartalet. The new premises will offer a modern environment designed to educate the faculty’s 4,200 students, who currently study in several scattered facilities.
The second Oslo property is a 22,000 square-metre office building with restaurants in Universitetsgata 7-9. Designed to be “the office of tomorrow”, the ten-storey building, with its street-level spaces, will contribute to urban life and activity beyond normal office hours.
The third building is an 11,500 square-metre office building in Trondheim, around half of which has already been pre-let to the Norwegian Tax Administration.
Entra is a leading owner, manager and developer of office properties in Norway. As at year-end 2018, the property portfolio consisted of 92 buildings with a total market value of NOK 46 billion. Entra is also a major issuer of bonds in the Norwegian market. Previously, NIB has invested in two green bonds issued by Entra.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
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