STEEN & STRØM CONCLUDES LONG-STANDING PARTNERSHIP AT METRO SENTER
We are delighted to announce that Metro Senter will continue its successful development under the leadership of Storebrand and Alti.
Metro Senter in Lørenskog comprises a traditional shopping center, big-box retail, office space, extensive parking facilities, and land with development potential. With approximately 100 stores, restaurants, and other service offerings, the center attracted around 5 million visitors in 2025 and generated sales of NOK 1.5 billion.
The center has been managed by Steen & Strøm AS since its opening and, following its expansion in 2007, has been jointly owned 50/50 by Storebrand and Steen & Strøm AS. Storebrand now sees an opportunity to further develop the property under full ownership.
“With full ownership, we are now looking forward to further developing the property. Metro Senter enjoys an attractive location in the center of Lørenskog and benefits from a diversified tenant mix across grocery retail, big-box retail, and traditional shopping. This provides a strong foundation for continued value creation.
I would also like to take this opportunity to thank Steen & Strøm for many years of excellent cooperation,“ says Andreas Henriksen Lerø, Portfolio Manager of Storebrand Eiendomsfond Norge.
Storebrand Eiendomsfond Norge is Norway’s largest real estate fund. Following the transaction, the fund will own 25 properties with a total value exceeding NOK 18 billion. The fund is owned by 52 Norwegian institutional investors, with Storebrand Life Insurance holding nearly 30 percent. The portfolio is diversified across the Office, Logistics, Retail, and Hotel segments.
Alti will assume responsibility for the operation and management of the property following completion of the acquisition.
Under Steen & Strøm’s management, Metro Senter has delivered stable sales growth through years marked by increasing competition and the pandemic.
“Metro has undergone an impressive development in recent years. Through the introduction of new and attractive concepts, the center has strengthened its position in Lørenskog. We have greatly appreciated the strong and constructive partnership with Storebrand throughout this journey and are very pleased that they are now assuming full ownership of the center.We are convinced this is a positive solution for Metro and that the center will continue its successful development under the leadership of Storebrand and Alti. We wish them every success on this exciting journey ahead,” says Christian Brewaeys, CEO of Steen & Strøm.
The buyer was advised by Haavind as legal counsel and WSP as technical advisor.
Completion of the transaction is subject to approval by the Norwegian Competition Authority.
The parties have agreed to keep the transaction value confidential.