Niam acquires property in Västerås

Niam Nordic Fund IV has acquired the retail property Lennart 17 in Västerås from a bankruptcy estate represented by Ackordcentralen. The property comprises 13,500 sqm primarily consisting of the shopping center Centra. The purchase price was SEK 187 million and closing is scheduled for November 1, 2010.

- Centra is located in the prime retail area of Västerås and is an excellent complement to the retail portfolio of shopping centers that Niam acquired from Atrium Ljungberg last year. The property has all the necessary qualities to be an important part of the city’s retail market long-term and considering the vacancies and investment requirements, we have paid a reasonable square meter price, says Johan Bergman, CEO of Niam.