Niam expands its retail portfolio in Norway

Niam has acquired Linderud Senter in Norway through its subsidiary Sektor Eiendomsutvikling from Braathen Eiendom Holding AS. The center has a lettable area comprising 28,000 sqm with approximately 80 tenants and generated just under NOK 600 million in turnover in 2010.

“Linderud Senter is a modern and well maintained shopping center that fits perfectly with our current portfolio of 27 shopping centers and we are excited about the opportunity to develop the center further”, says Eirik Thrygg, CEO of Sektor Eiendomsutvikling.

The acquisition of Linderud Senter is the first acquisition made by Sektor Eiendomsutvikling since it was acquired by Niam Nordic Fund IV in April last year and is a step in the continuous growth of Sektor Eiendomsutvikling as the most attractive shopping center owner in Norway.

“With Niam’s financial capacity and extensive real estate competence, we are well equipped to strengthen Sektor Eiendomsutvikling’s position”, says Kjell Sagstad, chairman of the board in Sektor Eiendomsutvikling and head of Niam’s operations in Norway.