Niam Acquires property in Kista

Niam has, from European Property Fund SICAV, managed by Aviva Investors, acquired the property Blåfjäll 1 in a company transaction based on a property value of SEK 485 million. The property holds an office building from 2002 comprising 26,000 square meters, incl. garage, and is fully leased to Ericsson.

The Seller was represented by Cushman & Wakefield.

Niam has, including this transaction, acquired properties for SEK 10 billion in just over one year on behalf of its fund Niam Nordic Fund IV.

-We pursue our present investment strategy of large, selective acquisitions from motivated sellers in tune with the conditions and demands on both buyers and sellers in today’s investment market, says Fredrik Jonsson, CIO at Niam.

-We are delighted and proud to be entrusted with the task of representing Aviva Investors in such a large and important transaction under the present tough market conditions. There have been several interested parties, but Niam was the preferred choice due to their proven capability of carrying out transactions despite all difficulties in the current market, says Magnus Lange at Cushman & Wakefield.

Niam took over the properties on November 30, 2009.