Europe

CBRE acquires Norwegian affiliate

CBRE has bought its Norweigan affiliate company Atrium AS in response to increased interest in commercial real estate opportunities in the Nordic region.

The move will also enable CBRE to align its recently expanded occupier outsourcing business, Global Workplace Solutions, with Atrium’s existing capabilities.

Norway attracted a record €13.4bn (£10bn) of commercial real estate investment in 2015, overtaking Sweden at the end of the year to become the largest Nordic property market.

Atrium was founded in 1993 and became a CBRE affiliate in 2000. It provides investment, leasing, occupier and valuation services to local and international clients.

The companies have worked together across a number of investments, including one of Europe’s largest single-asset transactions in 2015, the sale and leaseback of Statoil’s 1.1m sq ft global headquarters in Stavanger.

CBRE chief executive EMEA Martin Samworth said: “Atrium has built an exceptional reputation and client base and this acquisition will allow us to enhance the services we provide to clients, many of whom are targeting Norway for its growth potential.”

Atrium managing director John Olof Solberg added: “We have enjoyed a very successful relationship with CBRE over the past 15 years. Now we look forward to being able to leverage the full benefits of the global service offering and brand for our clients.”

The acquisition, subject to approval by the Norwegian Financial Supervisory Authority, is expected to be completed by the end of April.

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