REQ Real Estate Fund II has completed its first investment with the acquisition of Fornebuveien 38-40 – an attractive commercial property with significant development potential. The property is strategically located at Fornebu and has a clear path toward transformation for residential purposes. REQ has partnered with Fredensborg Bolig for this investment. The seller of the property is Second Space Eiendom, which will also continue as a tenant in the building.

– We are very pleased with this investment and look forward to getting started on the project. Fornebuveien 38-40 combines stability with exciting development opportunities, and we look forward to a strong collaboration with Fredensborg in the next phase. Together, we will facilitate a smooth zoning process and create value for both investors and the community. We thank the sellers for a good process and look forward to further dialogue with the tenant in the building, says Haakon Flinder of REQ.

The property is currently fully leased, ensuring a stable cash flow during the zoning period. With positive dialogue with the municipality, ongoing infrastructure investments, and a significant housing shortage, the project is well-positioned for success. The future residential development will help meet the growing demand for attractive housing in the area. Fornebuveien 38-40 is located just 250 meters from the upcoming Fornebubanen, further strengthening the property’s strategic position.

– Fredensborg Bolig is pleased to be part of the development of Fornebuveien 38-40 together with REQ. This project presents an exciting opportunity to contribute to the area’s continued growth, and we look forward to maintaining the good dialogue with the municipality, says Tollef Svenkerud of Fredensborg Bolig.

Second Space Eiendom is controlled by Daymio and Ferncliff.

– We would like to thank REQ for a structured and efficient process, characterized by good dialogue and collaboration. We look forward to continuing the operation of Second Space self-storage in the property in the coming years and closely following the development of the future residential project. With REQ and Fredensborg Bolig at the helm, we are confident that this will become an attractive and successful residential project that will contribute positively to the area, says Espen Aubert of Daymio.

The buyer and seller do not wish to disclose details of the transaction. Advisors for the buyers in the process have been Wikborg Rein and RSM.