Solon Eiendom ASA acquires three new properties for developement

SOLON EIENDOM ASA

STOCK EXCHANGE ANNOUNCEMENT

Solon Eiendom ASA acquires three new properties for developement (Oslo, 17 January 2017) – As communicated during the most recent management presentations in November 2016, Solon acquired six new residential properties with a development potential of more than 300 units for a total investment of approximately NOK 300 million in 2016.  Subsequent to the management presentation, Solon has entered into contracts to acquire three new residential development properties in Oslo and surrounding region. These properties have a total development potential of approximately 150 units with a total acquisition cost of approximately NOK 100 million, of which approximately NOK 75 million are deferred payments.

«We are very pleased with these acquisitions and are confident that we are able to develop them into attractive homes.  Further they reinforce our current strategy to grow our current land bank with attractive investments», says Andreas Martinussen, CEO in Solon Eiendom ASA.

For further information, please contact:

Andreas Martinussen
Chief Executive Officer
Mail: am@soloneiendom.no
Tel:   +47 400 00 405

About Solon Eiendom

Solon Eiendom is a Norwegian residential real estate development company focusing on the Oslo and Akershus region. Solon Eiendom was established in 2006 by founder Simen Thorsen and investor Tore Aksel Voldberg. The company has since its incorporation delivered 570 units with a corresponding sales value of close to NOK ~3 billion and sold more than 800 units with a total sales price of more than NOK ~4 billion.

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