Cases & Deals

Meyer Bergman forms joint venture to purchase 11-property retail portfolio in Oslo, Norway

Clients Meyer Bergman, Ltd.

Jones Day represented Meyer Bergman in negotiating a joint venture with a sovereign wealth fund to purchase a NOK5.3 billion (€554 million) 11-property prime retail portfolio in the central business district of Oslo, Norway, on behalf of its most recent fund Meyer Bergman European Retail Partners III.

The Oslo portfolio's properties are concentrated on or around Karl Johans Gate, the prime shopping street of the Norwegian capital, and include the Steen & Strøm and Eger Karl Johan department stores. Its tenants include Hermès, Gucci, Bottega Veneta, and Georg Jensen. The portfolio was sold by a Norwegian company circa 65% owned by Søylen Eiendom and the balance by Madison International Realty.