Niam acquires three commuter hubs in Stockholm

Niam has entered into a binding agreement with Citycon for the purchase of a portfolio with three commuter hubs totaling just over 57,000 square meters. The three hubs are located in Tumba, Högdalen and Fruängen, all of which are suburbs of Stockholm, Sweden.

Daniel Andersson, Head of Acquisitions Sweden, says, “With these acquisitions, we are significantly expanding our property portfolio in Stockholm. The properties offer a strong cash flow with a majority of tenants in groceries and other necessity driven retail as well as community services and housing. All hubs are directly adjacent to rail-bound traffic and we are very much looking forward to further develop them together with existing tenants and the municipalities in question”.

F. Scott Ball, CEO of Citycon, says “The sale is a confirmation of the value and attractiveness of high-quality Nordic properties with investors. With the current global situation, with low activity in the transaction market, the deal is a confirmation of the current valuation levels for this type of property”.

Estimated closing is during Q1 2021.

For further information, please contact:
Daniel Andersson, Head of Acquisitions Sverige
+46 705 55 08 35, daniel.andersson@niam.com  

For further information about Niam, please contact:
Rikard Henriksson, Managing Partner
+46 8 5175 85 63, rikard.henriksson@niam.com

Niam is a leading real estate private equity firm in Northern Europe with real estate assets under management of approximately €3.7 billion. We offer global institutions the opportunity to invest in the Nordic property markets. Niam was established in 1998 and has invested over €11 billion since inception. We have a fully integrated investment team of more than 70 dedicated real estate professionals with experience across all major asset classes. Niam is headquartered in Stockholm and has offices in Oslo, Helsinki, Copenhagen and Luxembourg. For more information, please visit www.niam.com.