2010-09-21 16:19Press release

Niam acquires property in Västerås

Niam Nordic Fund IV has acquired the retail property Lennart 17 in Västerås from a bankruptcy estate represented by Ackordcentralen. The property comprises 13,500 sqm primarily consisting of the shopping center Centra. The purchase price was SEK 187 million and closing is scheduled for November 1, 2010.

- Centra is located in the prime retail area of Västerås and is an excellent complement to the retail portfolio of shopping centers that Niam acquired from Atrium Ljungberg last year. The property has all the necessary qualities to be an important part of the city’s retail market long-term and considering the vacancies and investment requirements, we have paid a reasonable square meter price, says Johan Bergman, CEO of Niam.

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.