ABGSC acted as financial advisor in the NOK 3.8 billion sale of land and NOK 1.75 billion equity issue in the newly established company, Urban Property, towards Oslo Pensjonsforsikring, Equinor Pensjon, Selvaag and Rema Etablering Norge.

Selvaag Bolig has decided to carve-out and divest the majority of its land bank to a separate corporate structure, Urban Property. The portfolio to be divested comprise about 5,100 residential units for a total gross property value of NOK 3.8 billion, and a net property value of approx. NOK 3.5 billion. The transaction will be funded with NOK 1.75 billion in equity and NOK 1.75 billion in bank debt.