Built on expertise
Before founding Axer Eiendom, Borger Borgenhaug already had solid experience from his ten years as Head of Department for Project Development at Veidekke ASA. While gaining practical experience, he studied engineering, property appraisal and property management.
The beginning
The company was founded in 1999 by Borgenhaug and two partners. The start capital came from properties he had developed himself in Tjøme in Norway. The company’s main focus in the first few years was building supermarkets, at the same time as they started to direct their attention towards residential development. The company’s first residential development project was the construction of 12 apartments in Borgenhaug’s hometown of Tønsberg.
Commercial and multi-use buildings
Axer’s commercial property development has been a combination of new buildings and transformations of older buildings. Important commercial customers in the retail sector have included ICA, KIWI, REMA 1000, Elkjøp and Lefdal. In addition, office buildings have been a key part of Axer’s business.
From 2007 to 2010, Axer completed three projects, all of which combine commercial premises and apartments. Parkgata in Hamar in Norway combines apartments and offices, while Storhamar Terrasse and Strømmen Atrium & Studio combine apartments and supermarkets.
Centralisation and property portfolio
In recent years, Axer has had increased focus on Eastern Norway and the Bergen region, in addition to Gran Canaria. Our property portfolio has also increased significantly, and we currently have several thousand residential properties under development.