Arctic acted as sole manager for the NOK 1 600 million real estate project finance project Portalen Invest AS.
Portalen is a new landmark building in the center of Lillestrøm, and comprises of office, hotel and retail sections. The property has an excellent location with immediate access to the train station with the Airport Express Train and the Norway Trade Fairs. The project has been developed by OBOS Eiendom.
In the transaction Arctic has arranged a private placement NOK 400 million from a group of investors sourced in cooperation between Arctic Capital and Arctic Securities. Arctic has also arranged for the bond financing of the transaction. Storebrand Eiendom Norge KS will purchase the hotel in the transaction.