Niam sells office portfolio in Stockholm

Niam and Whitehall Real Estate Funds have sold a portfolio comprising eight properties in southern Stockholm to Aberdeen Property Fund Pan-Nordic.

The sold properties were acquired by Niam Fund III and Whitehall Real Estate Funds in a joint venture in 2005. The portfolio comprises 70,000 sq m of lettable area. The majority of the lettable area (93%) consists of modern office space.

Johan Bergman, Managing Director of Niam, comments: “The property and capital markets are facing new conditions. By selling now we secure that our investors get a good return on their money.”

The closing will take place on March 5.