Niam sells two office properties in one billion SEK transaction

Niam sells two office properties, Karin 11 and Nora 11, located in central Malmöto Wihlborgs. The properties have a total lettable area of approximately 45,000 sqm.

Karin 11’s major tenants are the Police Authority and the County Administrative Board and the property consists of two buildings.

Nora 11 is undergoing a total transformation, which started in 2014, and is turned into a modern and efficient office building in line with current top standards. Niam has updated the facilities and infrastructure in the building. For example, Niam added two large atriums in common areas, which have enhanced the business environment of the building. In March 2015, the first upgrade phase comprising 14,000 sqm, was completed which is let to the Tax Authority on a 10-year green lease. The second upgrade phase began in the spring of 2015 and will comprise about 12,000 sqm. Niam has secured a 10-year lease comprising 6,400 sqm of this area and the Tax Authority has also leased an additional 2,200 sqm. The second phase will be completed in 2016.

Stefan Albinsson, Niam Fund Manager says, “Nora 11, originally constructed in the 1980s and now converted into a modern office building with the infrastructure and standard suited to the needs of today, is one of many good examples of how Niam creates value."

For more information, please contact:
Johan Bergman, CEO, Niam AB
+46 8 5175 85 95, johan.bergman@niam.se

Stefan Albinsson, Fund Manager, Niam AB
+ 46 8 5175 85 15, stefan.albinsson@niam.se

For further information about Niam:
Jennifer Andersson, Head of Investor Relations & Business Development
+ 46 8 5175 85 59, jennifer.andersson@niam.se