Strengthening access to new investors in the Nordic region
Swiss Life Group is today one of the leading life insurance and asset management companies in Europe, and has previously made a number of similar transactions in Germany, the UK and France. With the acquisition of NRP's real estate business, they are now expanding their geographical footprint and strengthening access to new investors in the Nordic region, while strengthening their position as Europe's leading property manager.
- By taking this step, we are expanding our customer base and giving our customers direct and in-depth access to the Nordic real estate market. We look forward to working with NRP's experienced and successful team, said CIO of Swiss Life Group, Stefan Mächler, in a press release.
Strategically important partnership
NRP is a Norwegian privately owned investment company that operates within real estate, shipping and offshore operations. The company has been a leader in commercial real estate in Norway, and manages a portfolio of office, retail and commercial properties across the Nordic region. At the end of 2020, NRP managed real estate worth NOK 11.4 billion.
- After a long and thorough process, we concluded that Swiss Life Asset Managers was a perfect partner for NRP, with a strategic approach, financial strength, expertise and networks that make this relationship more valuable than the sum of its parts, Christian Ness said in the press release.
As one of the most active law firms in the Norwegian transaction market, Arntzen de Besche was represented by a highly experienced team consisting of Lars Horgen Hinze, Christian Willumsen Haug, Eyvind Sandvik, Karl Rosèn and Hans Henrik Kværne.
Subject to the approval of the Norwegian Financial Supervisory Authority, the transaction is expected to be completed in the fourth quarter of 2021.