Valle Eiendom Holding AS agreed to acquire NCC Property Development AS' Valle development project in Norway, including the remaining development rights, for an underlying property value of approximately 2 billion Swedish kronor.
The project, which includes the Valle Wood and Valle View properties, covers about 60,000 square meters of office development rights.
Valle Wood was completed in the summer of 2019, while Valle View has been started and is leased to the Norwegian Directorate of Immigration, with completion planned for the second quarter of 2021.
According to the company, approximately 27,000 square meters of office development rights remain, including about 83 parking spaces in the Valle Vision project.
As of Aug. 23, US$1 was equivalent to 9.62 Swedish kronor.
