Saturday, May 22, 2004

Nordea Completes $1 Billion Pan-Nordic Sale-Leaseback Transaction

PRNewswire - May 6, 2004

Cardinal Capital Partners, Inc., a U.S. based real estate investment firm, recently completed the acquisition of a multinational real estate portfolio valued at approximately $1 billion from Nordea Bank and its subsidiaries. The portfolio is comprised of 13 properties located in the central business districts of Stockholm, Sweden; Oslo, Norway; and Helsinki, Finland and encompasses 2 million square feet (192,000 m2) of premiere office and retail properties.

The deal reportedly took a year to complete and featured a 25-year lease for 2 million square feet of CBD office space.
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