2005-12-22 15:39Press release

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.

About Niam AB

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.