Niam acquires part of Vasakronan for €750 million

Niam will purchase a portfolio of 41 properties located throughout the 5 major cities in Sweden from AP Fastigheter for ~€750 million. The portfolio consists mainly of properties from AP Fastigheter’s acquisition of Vasakronan.

Niam has signed an agreement to acquire a portfolio of properties from AP Fastigheter in connection with AP Fastigheter’s acquisition of Vasakronan. Niam and AP Fastigheter have worked together on the Vasakronan acquisition since it was put on the market. Niam was one of the parties who was initially asked to bid for the entire Vasakronan.

The select portfolio Niam is purchasing from AP Fastigheter consists of 41 properties at a purchase price of SEK 7 billion (€750 million). The portfolio is divided across Stockholm, Gothenburg, Malmö, Lund and Uppsala, where 90% of the value lies in the first 3 listed cities.

"We are obviously delighted that our partnership with AP Fastigheter was successful," comments Johan Bergman, Managing Director of Niam. "We believe we will get a well-balanced portfolio in the five strongest performing real estate markets in Sweden."

With this acquisition, Niam’s funds will have properties located in Sweden, Finland and Latvia valued ~€1.9 billion under management.

The closing will take place on October 1, 2008.

For further information, please contact:

Johan Bergman, Managing Director, Niam AB +46 8 5175 8500

Fredrik Jonsson, Senior Director, Niam AB +46 8 5175 8523