Dronning Mauds gate 15, Oslo.
Dronning Mauds gate 15 is an office building located in a prime office location in Oslo CBD. Acquired by GNRE Fund II in 2016 with 50% vacancy, the business plan was to refurbish and lease up the vacancy.
During Genesta’s management the property’s NOI was increased by circa 140% and the average lease length moved from 2.0 to 4.7 years. The occupancy rate increased from 50% to 96%.
The property was upgraded with electric car chargers, LED lighting with smart controls, water saving fixtures, efficient waste recycling facilities and new bicycle facilities promoting sustainable commuting options for the occupiers. Dronning Mauds gate 15 was awarded BREAAM In-Use: Very Good.
Dronning Mauds gate 15 was divested in February 2019 and significantly outperformed the initial business plan.