Niam Fund III is to acquire office properties valued at EUR 310 million from Fabege. The portfolio consists of the eight properties composing the Marievik estate and a further two properties in Kista.
“The portfolio will be owned equally by Niam Fund III and Whitehall Real Estate 2005 Funds. We will take over as owners on 1 September 2005,” states Henrik Saxborn, Head of Acquisitions and Managing Partner at Niam.
He views the acquisition of properties in Marievik and Kista as an important step in Niam Fund III’s investment in the Stockholm office-property market.
“We consider the office properties in Marievik to be highly attractive, especially considering the new district that is growing around the estate, offering a combination of modern homes and offices as well as excellent communications.”
A further EUR 1.3 billion to be invested
Niam set up Niam Fund III in 2004. According to the authoritative international periodical IPE, Niam Fund III is currently the largest opportunistic property fund in Northern Europe and one of the five largest in Europe.
Its investors are international institutional investors. So far – in its first year – the fund has invested some EUR 640 million in properties.
“The investments we have made are mainly office and retail premises in Sweden and Finland,” says Henrik Saxborn.
The fund still has some EUR 1.3 billion to invest.
“Our ongoing strategy is to buy properties throughout the Nordic region and also in the Baltic area,” Henrik Saxborn explains. “We are interested in all property segments and also see exciting opportunities in making joint acquisitions with other partners.”
For further information contact:
Henrik Saxborn, Managing Partner, Niam AB
Tel: +46 8 5175 8547, +46 708 44 30 47
Niam is one of the leading private equity firms in the Nordic and Baltic region specialising in property. Niam offer financial investors a high return via investments in funds that in turn invest in all types of properties. The funds are raised and managed on a discretionary basis by Niam. Since the company was founded in 1998, properties with a total value of EUR 2.7 billion have been acquired by Niam’s funds or in association with international real estate funds. Today, Niam has owner responsibility for properties valued at EUR 1.6 billion.
Niam has three fully invested funds. Niam Fund III currently has EUR 321 million in equity commitment, which corresponds to an investment capacity of approximately EUR 1.7 billion.
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.