Vestaksen Eiendom

What Vestaksen Eiendom does

Vestaksen Eiendom AS is a privately-held Norwegian real estate developer headquartered in Drammen, founded in 2011 and majority-owned by Rune Isachsen Holding AS (51%) with Stykket Holding AS holding 49%. The company develops, sells, and leases residential and commercial properties in the Drammen-Kongsberg corridor of Norway, with a stated emphasis on sustainable construction methods including mass timber (massivtre), BREEAM-NOR Outstanding certification, and Virtual Design and Construction (VDC) with digital twin workflows. Its residential portfolio includes completed projects Stadionkvartalet (174 units, Mjøndalen), Bragernes Kvartal (125 units, Drammen), and Dyrmyrskauen (43 units, Kongsberg), plus a proprietary BO² quality standard that bundles shared amenities (guest apartments, hobby rooms, bicycle workshops, greenhouses) into housing projects. Planned residential projects include Engebredden (46 units) and the Trevirket masterplan in Gulskogen Nord for approximately 700 units by 2028.

On the commercial side, Vestaksen has delivered and largely divested assets such as Storcash Buskerud (for Norgesgruppen), Aksen A in Eiker Næringspark, Kilden waste transfer station, and The Oak in Kobbervikdalen — the latter sold to or leased to Willab Garden and Vindu Butikken. The signature asset, SporX, is a 10-storey, 6,800 sqm BREEAM Outstanding mass-timber office building near Drammen railway station that was sold to Storebrand Eiendomsfond Norge KS in April 2022 while the company retains its own headquarters and an office hotel (Vestaksen Kontorhotell) under a 10-year lease. The company is now executing on a large commercial pipeline led by the 900-mål Fiskumparken business park along E134 (~600,000 sqm of commercial plots), the Kobbervikdalen 119 redevelopment (~5,000 sqm), and the planned Vinjes gate 1 office building. Revenue is generated through one-time property sales, long-term commercial leases, and recurring office hotel service fees; the team is small (1-10 employees) and led by CEO Carl Brynjulfsen (appointed 2021, ex-Ferd Eiendom) with Project Director Knut M. Tolo (ex-Ferd Eiendom).

Name

Vestaksen Eiendom

Legal name

Vestaksen Eiendom AS

Website

https://vestaksen.no

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

1–10 employees

Short description

Vestaksen Eiendom is a Drammen-based Norwegian real estate developer building sustainable residential and commercial properties along the Drammen-Kongsberg corridor, monetizing via property sales, long-term leases, and an office hotel, with BREEAM-certified mass-timber projects like SporX and large pipeline projects Trevirket and Fiskumparken.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Land Subdivision (23721), Commercial and Institutional Building Construction (236220), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120)

SIC

General Bldg Contractors - Residential Bldgs (1520), General Bldg Contractors - Nonresidential Bldgs (1540), Real Estate (6500)

akta.pro primary industry

Residential General Contracting (New Build) (IMAFAAAB)

akta.pro secondary industries

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL), Residential Design-Build & Renovation-Integrated Builders (IMAFABAE)

Keywords

• Sustainable real estate development
• Residential property development
• Commercial property development
• Mass timber construction
• Office hotel services

Headquarters

HQ city

Drammen

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations

Revenue model

1. Property Sales: Development and sale of residential and commercial properties. Properties developed include Stadionkvartalet (173 apartments), Bragernes Kvartal (125 apartments), Dyrmyrskauen (43 apartments), The Oak (commercial), Storcash, and Aksen A. Properties are sold to buyers upon completion.
2. Long-term Commercial Leases: Long-term rental of commercial spaces in properties such as Fiskumparken (900 mål commercial park) and office spaces in SporX. Tenants include Willab Garden, Vindu Butikken, and various businesses in commercial parks.
3. Office Hotel Services: Flexible office rental services in SporX at Dr. Hansteins gate 13. Offers 4-person rooms and individual workspaces with options for hourly or monthly rental. Includes access to meeting rooms, reception services, bicycle parking, and fitness facilities.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Vestaksen Eiendom is a Norwegian real estate developer that plans, builds, and sells or leases residential and commercial properties in the Drammen region, with a strong emphasis on sustainable construction using mass timber (massivtre) and BREEAM environmental certification. The company develops apartment complexes, office buildings, industrial/business parks, and operates a serviced office hotel (Kontorhotell) within the SporX building. Its residential projects follow a proprietary quality standard called BO², integrating extensive shared amenities.

Product overview

Vestaksen Eiendom is a Norwegian real estate developer offering a portfolio of residential and commercial property projects. The residential portfolio includes completed apartment complexes (Stadionkvartalet with 174 units in Mjøndalen, Bragernes Kvartal with 125 units in Drammen, Dyrmyrskauen with 43 units in Kongsberg) and planned developments (Engebredden with 46 units in Drammen, Trevirket Gulskogen with ~700 units planned for 2028). The commercial portfolio includes office buildings (SporX — a BREEAM Outstanding massivtre building in Drammen; The Oak — two buildings sold to Willab Garden and Vindu Butikken; Vinjes gate 1 — planned), industrial/business parks (Fiskumparken — 900-dal park along E134, Eiker Næringspark's Aksen A), and infrastructure (Kilden waste transfer station, Storcash wholesale building). The company also operates a serviced office hotel (Vestaksen Kontorhotell) within the SporX building, offering flexible meeting rooms and office spaces. The BO² sub-brand represents the company's residential quality standard with shared amenities built into housing projects.

Differentiator

Problem solved

Functional benefit

Brands

• BO²: A quality housing concept integrating numerous well-being factors into all residential projects, including guest apartments, party halls, sewing rooms, hobby rooms, bicycle workshops, greenhouses, and car wash facilities.

Products and services

• Engebredden - Tollbugata 7 46 owner-occupied residential apartments with ground-floor commercial space located near Strømsø Square and Drammen train station, for individual buyers and households.
• Stadionkvartalet 174 residential apartments in Mjøndalen developed with extensive shared amenities including carpentry workshop, sewing room, bicycle workshop, car wash, guest apartment, and communal garden, for individual owners and households. Completed 2014.
• Bragernes Kvartal 125 modern apartments near Bragernes Square in Drammen city centre, with parking basement and green outdoor areas, for individual buyers. Completed 2018.
• Dyrmyrskauen 43 modern apartments on Kongsberg's sunniest side, built in collaboration with PK Eiendom, for individual owners. Completed 2015.
• Trevirket, Gulskogen Planned development of approximately 700 residential apartments in Gulskogen Nord, Drammen, spanning 45,000 sqm with an expected completion year of 2028.
• SporX 10-storey, 6,800 sqm BREEAM Outstanding office building built entirely in massivtre (cross-laminated timber), located near Drammen railway station. Features digital twin (VDC) design, 40% lower CO2 emissions vs. reference building. Sold to Storebrand.
• The Oak Commercial property in Kobbervikdalen comprising two buildings: a 1,000 sqm unit for Vindu Butikken (doors and windows retailer) and a 2,500 sqm unit for Willab Garden (garden living showroom). Completed and delivered May 2022. Sold.
• Fiskumparken 900-dal (approx. 600,000 sqm of commercial lots) business park along E134 between Hokksund and Kongsberg, with views of Fiskumvannet and Eikeren. Development started spring 2020. Suitable for retail, logistics, technology, and industrial tenants. Offers both land parcels and completed buildings for sale or long-term lease.
• Kobbervikdalen 119 21-decare property in Drammen with existing office and warehouse buildings of 4,200 sqm, plus development potential for approximately 5,000 sqm of new construction. Expected completion 2026.
• Vinjes gate 1 Innovative 8,000 sqm office building planned at Øvre Sund bru in Drammen, near Drammen station (900m). Designed to reflect the city's timber history with modern facilities and services. Building start not yet decided.
• Kilden omlastingsstasjon Modern indoor waste transfer station with solar panels and energy-efficient solutions for Drammensregionen. Completed 2020. Sold.
• Storcash Buskerud 2,743 sqm cash & carry wholesale building for Norgesgruppen in Kobbervikdalen, near E18. Completed and delivered autumn 2016. Sold.
• Aksen A 8,000 sqm multi-functional industrial building in Eiker Næringspark, Hokksund, with 8-metre ceiling height, suitable for heavy machinery, storage, logistics, small industry, and offices. Completed August 2017. Sold.
• Vestaksen Kontorhotell Serviced office hotel located in SporX, Dr. Hansteins gate 13, offering flexible office room rentals including 4-person rooms and meeting rooms (Ask, Bergmynte, Bøk, Lerk, Eik), with access to rooftop terraces, bicycle parking, and a canteen operated by Compass Group. Targets companies, entrepreneurs, and startups seeking flexible office space.
• BO² Living Concept Proprietary residential quality standard integrated into all Vestaksen residential projects, encompassing amenities such as guest apartments, communal halls with libraries, sewing rooms, hobby rooms with workshop benches, car garage with wash facilities, greenhouses, bicycle workshops, and seasonal wardrobe storage. Applied across projects including Stadionkvartalet and Bragernes Kvartal.

Quantifiable outcome

• SporX achieves 40% lower CO2 emissions compared to reference buildings
• +3 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered core, major and minor.

• Betonmast Buskerud-VestfoldcoreStrategic or Co-development PartnerMain construction partner for major projects including SporX and The Oak. Collaboration includes use of VDC methodology and digital twin technology. Betonmast has built several of Vestaksen's signature projects using sustainable construction methods. Total contract for SporX was approximately 200 million NOK.
• Dark ArkitektercoreStrategic or Co-development PartnerArchitecture firm for innovative projects including Agropolis (which won two Architecture MasterPrize awards). Dark Arkitekter is tenant in SporX building and developed the concept for sustainable urban farming integrated residential development.
• The Creators Community / MeshcoreStrategic or Co-development PartnerWon the Gründerhus concept competition for Drammen. Partnership to establish Drammens gründerhus in SporX building as part of Næringsvekst 2020 initiative. Mesh operates startup hubs including Mesh Drammen and Mesh Youngstorget.
• Expandia ModulercoreChannel Partner/ Reseller/ DistributorFirst tenant and buyer in Fiskumparken, purchasing 15-dekar plot. Expandia Moduler provides modular temporary buildings for offices, schools, care homes, and kindergartens. Has grown from 4,000 sqm to 63,000 sqm module fleet since founding.
• NorgesgruppenmajorStrategic or Co-development PartnerMajor customer for whom Storcash Buskerud was developed. Norgesgruppen is Norway's largest cash & carry wholesaler for professional market. Building is 2,743 sqm and was completed and delivered in 2016.
• PK EiendomminorStrategic or Co-development PartnerCo-development partner for Dyrmyrskauen residential project in Kongsberg. 43 apartments built on Kongsberg's best sunny side with high standard.
• Alento ASminorStrategic or Co-development PartnerConstruction contractor for building phases 3-5 of Stadionkvartalet residential project in Mjøndalen.
• Næringsforeningen i DrammensregionencoreStrategic or Co-development PartnerCoordinator and operational manager for Drammen Gründerhus for first two years. Part of Næringsvekst 2020 initiative with 4 million NOK budget for two years.
• Universitetet i Sørøst-Norge (USN)minorStrategic or Co-development PartnerUniversity partner for Drammen Gründerhus providing network connections and links between academia, existing businesses, and new startups.
• BNM Realist NæringsmeglingminorChannel Partner/ Reseller/ DistributorResponsible broker for sale of Kobbervikdalen 119 development property from Ole Selvig Eiendom AS to Vestaksen Eiendom.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• OBOS: Norway's largest housing developer and member-owned cooperative building tens of thousands of homes across the country. Comparable to Vestaksen as a Norwegian residential developer with a substantial pipeline and similar unit economics, but at vastly greater scale and geographic reach.
• Entra ASA: Norwegian publicly-listed commercial real estate company owning and developing office buildings. Comparable to Vestaksen because Vestaksen's SporX directly competed against Entra's Rebel project for the Storebrand sustainability award, positioning both as leading Norwegian sustainable-build commercial property developers.
• Norwegian Property ASA: Norwegian publicly-listed commercial real estate company focused on prime office properties in Oslo. Comparable to Vestaksen for its commercial-office leasing model and as a potential acquirer of Vestaksen-developed assets (the relationship Vestaksen has with Storebrand mirrors the kind of institutional ownership model NPRO exemplifies).
• Olav Thon Gruppen: Major Norwegian commercial real estate group with one of the largest property portfolios in Norway, including offices, retail, and hotels. Comparable to Vestaksen as a Norwegian commercial real estate owner/lessor, and notably the prior employer of Vestaksen CEO Carl Brynjulfsen — signaling where Vestaksen's commercial ambitions could be benchmarked.
• Skanska Norge AS: Norwegian arm of Skanska, the international construction and real estate development group. Comparable to Vestaksen on commercial property development (especially sustainable office buildings) and on residential build-to-sell, but at substantially larger scale and broader geographic scope.
• Veidekke ASA: Major Scandinavian construction and property development company with Norwegian residential and commercial operations. Comparable to Vestaksen on residential build-to-sell and commercial development, with similar construction-partner relationships, but operating at materially larger scale across multiple Nordic geographies.

Direct peers

• AF Gruppen ASA: Norwegian construction and real estate group covering building, civil engineering, environment, energy, and property development. Comparable to Vestaksen on the property development side, particularly in mixed residential/commercial developments in the Oslo region and Eastern Norway.
• Steen & Lund AS: Norwegian regional real estate developer active in residential and commercial properties in Eastern Norway. Comparable to Vestaksen as a mid-sized, regionally focused developer building and selling both homes and commercial space, often partnering with external contractors.
• Heimdal Bolig ASA: Norwegian residential property developer focused on building apartments in Greater Oslo and Eastern Norway. Comparable to Vestaksen for its residential apartment build-and-sell model, similar unit scale, and use of external construction partners.
• Solon Eiendom AS: Oslo-based Norwegian property developer focused on residential and mixed-use projects. Comparable to Vestaksen as a Norwegian developer combining residential build-to-sell with commercial/office elements and an emphasis on quality and design differentiation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vestaksen Eiendom