Niam has entered into an agreement to sell a residential portfolio of approximately 13,800 sqm to Heimstaden, a Swedish property company for a price of approximately DKK 422 million (€56.6 million).
The portfolio was acquired by Niam in 2013 and comprises 114 residential units located in four different locations in the greater Copenhagen area.
The sale follows a successful transaction of a residential portfolio of 436 units in Copenhagen between the parties earlier this year.
Johan Bergman, Niam CEO, says; “We are happy to once again do business with Heimstaden. We entered the Copenhagen residential market with good timing and the divestments that we have executed generate attractive returns for our investors” and he continues: “We have an unchanged positive view on the Danish property market and we expect to continue to be a significant and active investor going forward.”
The transaction will take place with effect as of October 1, 2016.
For more information please contact:
Johan Bergman, CEO, Niam AB
+46 8 5175 85 95, email@example.com
Kristian Krogh, Senior Director / Head of Denmark
+45 21 31 00 55, firstname.lastname@example.org
For further information or questions, please contact:
Jennifer Andersson, COO, Head of Investor Relations & Business Development
+46 8 5175 8559, email@example.com
Niam is the leading real estate private equity firm in Northern Europe with real estate assets under management of approximately €3 billion. Niam offers global institutions the opportunity to invest in the Nordic property markets. Niam was established in 1998 and has invested over€6.3 billion through its own funds since 2000. Niam has a fully integrated investment team of 50 dedicated real estate professionals with experience across all major asset classes. The company is headquartered in Stockholm and has offices in Oslo, Helsinki and Copenhagen. For more information, please visit www.niam.com.