Debt financing of the "Telegraph"

December 16, 2020
PAI has acted as lead investor in the NOK 1.6bn financing of the “Telegraph”, an office property located in Kongens Gate 21 in the Oslo city centre. The property has been completely renovated and certified to BREEAM Very Good.

The property is considered an architectural icon, a building of 25,000 sq.m. that occupies an entire block of the Kvadraturen district. Kongens Gate 21 was designed by the renowned architects Magnus Poulsson and Arnstein Arneberg, who also designed Oslo City Hall. With its marble stairways and a fresco painting by Alf Rolfsen adorning the main public vestibule, the neo-Baroque building opened to acclaim in 1924 as Norway’s then largest office building. The property was extended in 1966 along more minimalist lines, typical of the style at the time.

 

Congratulations to Tristan Capital Partners, Vedal and Malling & Co as sellers, and Arctic Securities AS as buyer.

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