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Newsec acquires Tjuvholmen Drift AS

Press release   •   Jun 26, 2019 10:48 CEST

Newsec acquires 100 percent of the shares in Tjuvholmen Drift AS from Selvaag Eiendom as of 2 July 2019. With this, Newsec further strengthens its operations in Oslo.

“Through the acquisition of Tjuvholmen Drift's portfolio of approximately 300.000 square meters, we get a good foundation for further growth and development of professional management and advisory services. Newsec has 30 years of experience from national and international management assignments, and together with Tjuvholmen Drift we are positioned to handle future technological and market demands from clients. With a unique expertise and ability to deliver, both existing and new clients can be confident that they will be well catered for with us”, says Hilmar Auran, Head of Newsec Property Asset Management in Norway.

“Management and employees in Tjuvholmen Drift will help to increase the level of service and the breadth of deliveries to clients in the Oslo market. The operation of increasingly complex technical facilities in commercial buildings requires great focus and broad expertise. A collaboration with an international player such as Newsec enables Tjuvholmen Drift to manage and develop an even better product for our tenants and customers”, says Director of Commercial Property Management Bjørn Bratt Aanensen in Selvaag Eiendom.

Newsec is a partner-owned company with some 1 800 co-workers in all Nordic and Baltic countries. Newsec has approximately 28.3 million square meters under management and annually signs lease agreements of some 1 million square meters. In Norway, Newsec is the largest player in external property asset management with its 250 employees in 9 offices.

Selvaag Eiendom has owned Tjuvholmen Drift AS since its establishment in 2007. The business is mainly related to the management and operation of common areas and technical facilities at Tjuvholmen in Oslo, in addition to the technical management and operation of commercial properties in Selvaag Eiendom's portfolio. Tjuvholmen Drift has 22 employees and had a turnover of MNOK 24.4 in 2018.

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services within Advisory and Property Asset Management. Newsec was founded in 1994 and is today a partner-owned company with some 1 800 co-workers spread across the seven Nordic and Baltic countries. In 2018, Newsec opened a London office to assist international investors interested in the Nordic and Baltic region. Newsec has approx. EUR 45 billion under management and annually signs lease agreements of approx. 1 million square meters, manages transactions of some EUR 3.3 billion and does real estate valuations of underlying property worth almost EUR 165 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

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