Scandinavian Property Development ASA (SPD) has agreed to acquire the development project K2 in the western outskirts of Oslo. The 28,000 m[sup]2[/sup] office project was acquired for NOK 280 mln (EUR 36 mln) from Telenor Eiendom Holding. The project is estimated to yield an Internal Rate of Return (IRR) of more than 20%, the company said. The transaction is expected to be completed by the end of November.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
