Heimar hf.: Acquisition of Gróska Completed
The acquisition by Heimar hf. ("Heimar" or the "Company") of all shares in Gróska ehf. ('Gróska') and Gróðurhúsið ehf. ('Gróðurhúsið') (the 'Transaction'), which was initially announced on 23 April this year, has now been completed.
Gróska owns the property Gróska, located at Bjargargata 1, 102 Reykjavík, an innovation hub and one of Iceland's largest and most ambitious office buildings. The property comprises approximately 18,600 square meters of floor area and a 6,200 square meter underground car park with 205 spaces, totaling approximately 24,800 square meters. Gróðurhúsið operates a startup incubator and coworking spaces within the premises. The property is BREEAM certified, and as a result of the acquisition, the proportion of Heimar's certified assets has increased from 38.9% to 41.1%.
Tenants at Gróska include the game developer CCP, the American software company NetApp, the University of Iceland Science Park, World Class, Business Iceland, and numerous other companies that are at the forefront of Icelandic innovation. The diverse mix of tenants contributes to a vibrant community in the building, aligning closely with Heimar's motto: "live, play, work."
As previously disclosed, the purchase price was settled through issuance and delivery of 258 million new shares in Heimar. These shares have been listed on Nasdaq and delivered to the sellers of Gróska and Gróðurhúsið.
As part of the transaction, the investment company Omega ehf. will acquire the shares from Björgólfur Thor Björgólfsson and, following the acquisition, will become the largest shareholder in Heimar with an approximate 12.5% stake.
Halldór Benjamín Þorbergsson, CEO of Heimar:
"Gróska is a unique building with a strong community of innovation and creative industries, and it is a perfect fit within our property portfolio. Its location within the university area, the scale and design of the building, and its proximity to the city center, in our view, will support continued demand for office and commercial space at Gróska in the long term. In recent months, we have divested individual properties from Heimar's portfolio in line with our strategy to own and operate strong hubs with diverse services in close proximity to residential areas and efficient transport links. The acquisition of Gróska and Gróðurhúsið marks a significant step in that journey and strengthens both the company and our property portfolio."
Birgir Már Ragnarsson, Chairman of the Board of Gróska and Co-owner of Omega:
"The sale of Gróska to Heimar is a gratifying milestone, marking a turning point in the nearly decade-long development of this innovation center in Vatnsmýri. The journey began when we, as major shareholders in CCP and in collaboration with the company's CEO, sought to build a headquarters tailored to its operations. In cooperation with CCP and the City of Reykjavík, we selected this location – primarily for its strong ties to the academic and scientific community. Having worked and invested globally in innovation for many years, the idea of building a knowledge cluster to rival leading tech campuses abroad emerged early on. That vision has been fully realized. We take great pride in how many successful companies have taken their first steps at Gróska. This confirms the success of our mission - that the building would serve as a fertile ground for the creative industries and value creation based on intellectual capital in Iceland. A project of this ambition deserves a strong owner with the capacity to continue its development. Heimar is the strongest real estate company in Iceland with a compelling vision for the future, and in my view, the right party to take over the operation of Gróska. The future is bright."
LEX acted as legal advisor to Heimar in the transaction, while LOGOS advised the shareholders of Gróska and Gróðurhúsið.
For further information, please contact Halldór Benjamín Þorbergsson, CEO of Heimar, tel. +354 821 0001.
Please note that in case of discrepancy in the English and the Icelandic versions, the Icelandic version shall prevail.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Amazon Signs 141,000 Square Foot We Work Lease In Silicon Valley Amid Relentless Expansion And Back To Work Mandate
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Amazon's (NASDAQ:AMZN) office expansion knows no bounds. Fresh from expanding its presence in New York, the tech giant announced it is growing its presence in Silicon Valley by teaming up with WeWork (NYSE:WE) to add 141,000 square feet of office space to accommodate its return-to-office mandate, CoStar News reports. The new offices are located at 4980 Great America Parkway in Santa Clara, California, in a building that Amazon will occupy in its entirety as part of its effort to have its workforce return to a five-day-per-week in-office work schedule. 'We're constantly evaluating our office footprint based on the needs of Amazon's businesses,' an Amazon spokesperson told CoStar News. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can WeWork has been a constant collaborator with Amazon, and the most recent deal follows similar arrangements the two companies have made recently, CosStar reports. At 330 W. 34th St. in New York and at 401 San Antonio Road in Mountain View, California, WeWork signed an office lease before Amazon moved in. 'So if we look at it and just take today's environment with all the uncertainty around tariffs and what's happening, who's prepared to commit to a 10- or a 15-year lease with $50 or $100 million spend?' WeWork CEO, John Santora, said of the arrangement with Amazon and other companies at a recent summit. 'You have to think about it. You have to think whether or not to invest that major capital in a market, at least through this short term. You have to step back,' he told Bloomberg. Trending: Invest Where It Hurts — And Help Millions Heal: While back-to-work mandates have been popular amongst many major corporations this year, Amazon has struggled to implement their's due to a lack of office space. Workers in Dallas, Phoenix, Atlanta and New York had their deadlines to return to the office pushed back four months while Amazon acquired more space. Amazon CEO Andy Jassy told employees in September that returning to an in-office work regimen was vital because 'collaborating, brainstorming and inventing are simpler and more effective.' 'If it's not for you, then that's OK. You can go and find another company if you want to. But for us, that's what we've decided is the best way to operate our company,' Amazon Web Services CEO Matt Garman said at a Wall Street Journal event in return-to-office push has not been without its complications, with parking space and commuting being among the complaints from former remote workers, the Journal reported. 'While we've heard ideas for improvement from a relatively small number of employees and are working to address those, these anecdotes don't reflect the sentiment we're hearing from most of our teammates,' a company spokeswoman told the Journal in February. 'What we're seeing is great energy across our offices.' On June 9 Pennsylvania Gov. Josh Shapiro announced that Amazon planned to invest 'at least $20 billion to establish multiple high-tech cloud computing and artificial intelligence (AI) innovation campuses across the Commonwealth of Pennsylvania.' The push would create 'at least 1,250 high-paying, high-tech jobs. Salem Township and Falls Township are the first communities identified as sites for these future campuses,' he said in a statement. It marks the largest capital investment in the commonwealth's history. Read Next: With Point, you can Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Image: Shutterstock This article Amazon Signs 141,000 Square Foot We Work Lease In Silicon Valley Amid Relentless Expansion And Back To Work Mandate originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Every Tesla Investor Should Keep an Eye on These 2 Numbers
Federal tax credits for electric vehicles could soon be eliminated. Another critical federal program is also at risk. These changes would only add to the mounting problems for Tesla. These 10 stocks could mint the next wave of millionaires › Tesla (NASDAQ: TSLA) has long been a volatile stock, but it's also become a very controversial name in recent months. Shares trade at a pricey valuation with a market cap of roughly $1 trillion, fueled by the promise of greater electric vehicle sales and a potential new robotaxi business. Yet sales growth for the company is struggling across many key geographies with CEO Elon Musk often making headlines for all the wrong reasons. If you're monitoring Tesla stock, here are two numbers you need to be tracking. A recent bill backed by President Donald Trump proposes eliminating tax credits for electric vehicles. These tax credits range from $4,000 to $7,500 for qualified vehicles. Right now, more than 90% of Tesla's sales come from just two models: The Model 3 and Model Y. Both qualify for federal tax credits, making them much more affordable for buyers. Surveys show that more than one-third of Tesla buyers wouldn't have purchased their vehicle without a tax credit. Monitor what happens to these figures closely. Will federal incentives drop to $0, or will they be reduced significantly? The fate of these tax credits is very unclear right now, but their elimination would likely further dampen Tesla's sales growth in the quarters and years to come. As troubling as the loss of the EV tax credit would be, there's another number to track that could be even more influential. Last quarter, Tesla posted a $409 million net profit. That profit was partially realized by $595 million in automotive regulatory credits -- accrued credits that Tesla sells to competitors that need to comply with emission standards. Most of these credits are likely earned under state programs, but some are generated from federal programs. If these programs are cut, Tesla will lose a critical revenue source with nearly 100% profit margins. With EV deliveries already declining, the loss of federal EV tax credits or automotive regulatory credits could put Tesla in an even more precarious position. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $368,190!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $37,294!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $653,702!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of June 9, 2025 Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. Every Tesla Investor Should Keep an Eye on These 2 Numbers was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
IonQ, Inc. (IONQ): NVIDIA CEO Is Giving A Green Light, Says Jim Cramer
We recently published a list of . In this article, we are going to take a look at where IonQ, Inc. (NYSE:IONQ) stands against other stocks that Jim Cramer discusses. IonQ, Inc. (NYSE:IONQ) is one of the few pure-play American quantum computing hardware companies. The firm was a regular feature of Cramer's appearances earlier this year in January. Back then, the quantum computing sector was basking in the glory of Google's announcement that its quantum computer had significantly outperformed a supercomputer. Investors started piling into quantum computing stocks, but Cramer remained a skeptic. Back then, NVIDIA CEO Jensen Huang knocked the wind out of the quantum computing bubble after he remarked that the technology wasn't mature. Yet, in a turn of events in late May, IonQ, Inc. (NYSE:IONQ)'s shares surged by 22% after its CEO commented in an interview that his firm could be the 'NVIDIA' of quantum computing. Cramer's comments revolved around NVIDIA's CEO changing tack on quantum computing: 'There are four quantum stocks that we have to follow. Some of my people that I work with were very, I think that they were, probably concerned that I went out and said, look we ought to be looking at . . .we ought to be looking at, you know the ones that people talk about. But they're gonna fly!' A quantum computer on a countertop in an engineering laboratory with a technician at work. Recently, Cramer commented on IonQ, Inc. (NYSE:IONQ)'s valuation: 'Oh my god, it's so high and it's losing so much money, but it's quantum. If I offer you a considered explanation of why I think that stock's too expensive, most people ignore it, so all I'm going to say is it's too speculative for me. I don't know what else to say.' While we acknowledge the potential of IONQ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
