"We consider this a vote of confidence"
In September 2020, the Olav Thon Group signed an agreement to take over the management of six shopping centres in Norway owned by Storebrand. The group wrote the following in a press release:
Storebrand is a professional real estate company with high expectations in terms of both operations and the further development of the shopping centres. We consider this a wonderful vote of confidence. We're proud to have these shopping centres in our portfolio. The Olav Thon Group is especially proud to be assuming responsibility for operations at City Syd, one of the largest shopping centres in Trondheim. We look forward to helping to develop Tiller and the City Syd area to become the city's top shopping area.
Truls Nergaard, Head of Storebrand Real Estate, comments,
"We've worked together with the Olav Thon Group for a number of years and are pleased to have a signed a new and expanded management agreement. The Olav Thon Group has extensive experience with the operation and development of shopping centres and has demonstrated a high degree of adaptability in an unpredictable time in the Norwegian retail sector. We look forward to the future-oriented management of our shopping centres as part of the Olav Thon Group's shopping centre portfolio."
Storebrand shopping centres that fall under the new management agreement
- City Syd
- Holmen Senter
- Ivar Lykkesvei
- Kvadrat
- Tiller Torget
- Østfoldhallene
Storebrand Real Estate is one of Norway's largest property management companies, with a total site area of around 1,000,000 m² and market value of NOK 33 billion. Read more about Storebrand Real Estate.
