Niam Acquires Bankgiro Properties by Stockholm’s Globen City District

Niam Fund III has acquired the Bankgiro properties in the vicinity of the Globen City district of Stockholm. The properties have a lettable area of 46,200 sq m. Including this acquisition Niam now owns or part-owns properties in Greater Stockholm with a value of about EUR 1.3 billion.

Niam has acquired the properties Kylhuset 21 and Sandhagen 10, with a combined lettable area of 46,200 sq m, from Bankgiro¬centralen. The properties were originally built for the head office of Bankgirocentralen, which has signed an extended leasing contract in conjunction with the sale. Other tenants include Privatgirot AB and the IT unit of AMS.

Niam’s property portfolios now comprise more than half the office space in the two most attractive districts immediately south of the inner city limit, Globen City and Marievik. Niam previously had owner responsibility for all office properties in Globen City and is also the largest owner in Marievik.

“This acquisition has further strengthened our position in Stockholm’s inner suburbs,” says Per Johannesson, Managing Partner at Niam. “Because these districts lie just outside the Congestion Charge boundary for motor vehicles, this naturally makes the premises even more attractive for both new and existing tenants.”

Niam Fund III is the largest opportunistic property fund in Northern Europe. The fund has an investment capacity of approximately 1.8 billion Euro. Since it was founded 18 months ago, Niam Fund III has spent about EUR 720 million on property acquisitions.

The vendor’s representative in the transaction was Catella Corporate Finance.