Niam, the Swedish real asset fund manager, has acquired a newly re-developed landmark mixed-use property. The property is strategically located in a prioritized development area just south of the central business district of Stavanger, Norway. The previous owner was Br Jensen AS and SQM AS has developed the property.
The surrounding area called Paradis will be subject to a major transformation with potential for ~200,000 sqm of residential and commercial developments according to the municipality master plan. Additionally, the adjacent area will during the coming years undergo an infrastructure upgrade.
The property has achieved BREEAM NOR certification “Very Good” and energy rating A for the two top floors of the low block. Moreover, the building has a strong health profile with anchor tenants such as Aleris, Stavanger University Hospital and EVO.
Torstein Bomann-Larsen and Thomas Fiskerstrand, Associate Directors Transactions in Norway, say; “We are pleased to acquire this newly re-developed mixed-use property located just outside Stavanger city center. We believe the attractive tenant mix, proximity to public transportation as well as the overall development of the Paradis area lay the strong foundation for value creation going forward.”
The Norwegian transaction market continues to be strong. The increased activity seen in Q4 2020 has continued throughout 2021 with total transaction volumes reaching in excess of NOK 98 billion according to Pangea’s November 2021 report. There are also clear signs of recovery in the Stavanger market.
Fiskestrand and Bomann-Larsen continue, “We are looking forward to manage this asset in the years to come and eager to increase our presence on the Norwegian market where we currently see a number of attractive opportunities.”
For further information, please contact:
Torstein Bomann-Larsen, Associate Director Transactions Norway
+47 92 80 39 69, firstname.lastname@example.org
For further information about Niam, please contact:
Rikard Henriksson, Co-Managing Partner
+46 8 5175 8563, email@example.com
Niam is one of northern Europe's leading fund managers with a focus on investments in real estate and infrastructure. Since its inception in 1998, Niam has offered institutional investors the opportunity to invest in the Nordic real estate market through their funds. With extensive experience and expertise, the focus is on identifying and implementing improvements that create the best properties for our tenants and the communities where they are located with the goal of meeting both current and future needs. For the past 23 years, Niam has invested in properties of more than €11.5 billion and today they manage a property portfolio of approximately €2.4 billion. Niam Infrastructure focus on sustainable investments within renewable energy, transportation and telecom in the Nordics and northern Europe. The platform's first fund concentrates on small to medium-sized investments with a focus on asset aggregation and risk reduction in primarily sustainable infrastructure. Niam has more than 85 employees with offices in Stockholm, Helsinki, Oslo, Copenhagen and Luxembourg. For more information, please visit www.niam.com.