Niam AB, acting on behalf of Niam Fund IV, has entered into agreement with Sektor Gruppen to acquire Sektor EiendomsUtvikling AS.
Sektor EiendomsUtvikling AS is one of the largest owners of shopping centers in Norway. The company owns, develops, promotes and manages a portfolio totaling 28 shopping centers and retail properties in Norway, including 5 shopping centers which will be managed on behalf of Storebrand from 1 January 2011 and onwards.
Following the transaction between Sektor Gruppen AS and Niam AB, 13 shopping centers will be in complete ownership of Sektor EiendomsUtvikling, whereas two centers are rented and the remaining 13 centers will be operated by the company on behalf of other owners. The owned and rented shopping centers comprise in total around 365,000 square meters.
The transaction is expected to be closed by mid-April 2010.
For further information please contact: Johan Bergman, Managing Director, Niam AB +46 8 5175 8595
Niam, founded in 1998, is a leading private equity real estate firm in Northern Europe. Our head office is located in Stockholm, Sweden, and we have local offices in the Nordic capital cities of Oslo, Helsinki and Copenhagen. Niam has one of the largest real estate teams specifically focused on the Nordic Region. We recognize that our core strength is our people and our success is dependent upon attracting and developing the top real estate professionals in the region. Simply stated…Niam is people. Niam strives to be the Partner of Choice for Nordic real estate. Our network encompasses strong relationships that extend over decades with leading global institutional investors, European banks, tenants, municipalities and the local community. Our top managers average over 26 years of direct real estate experience. It is this collection of knowledge that makes Niam the Partner of Choice.