2012-06-05 10:50Press release

Niam disposes of two office properties in Oslo

On June 5, 2012 Niam signed a binding agreement with Oslo Areal to dispose of two office properties located in Oslo, Norway. The two properties, named Tordenskioldsgate 6 and Hovfaret 13, were originally acquired by Niam as a part of a larger portfolio in 2009. Tordenskioldsgate 6 is located in central Oslo and comprises ~5,600 sqm. with tenants such as Bjerke Luther, J.P. Morgan and Oro amongst others. Hovfaret 13 is located in Skøyen in the western part of Olso, comprises ~6,200 sqm. and hosts tenants such as OPAK and Mars Norge amongst others.

“The properties have had a sensible value increase which makes it reasonable for us to divest them now. It is with great joy that we dispose these properties to a long-term and stable owner such as Oslo Areal,” says Kjell Sagstad, Senior Director at Niam.

“Earlier this year, Oslo Areal AS divested its shopping malls in order to focus on office properties in the Oslo area. This acquisition strengthens the company’s office focused strategy in Oslo,” says Mona Ingebrigtsen, managing director at Oslo Areal.

For more information, please contact:
Kjell Sagstad, Senior Director, Niam AB
+47 92 21 30 20, kjell.sagstad@niam.no

Niam is the leading real estate private equity firm in Northern Europe and offers financial institutions the opportunity to invest in the Nordic and Baltic property markets. Since inception in 1998, Niam has invested over €5 billion through its own funds or on behalf of its financial partners and has generated a realized gross leveraged IRR of 31%. Niam is headquartered in Stockholm with satellite offices in Oslo, Helsinki and Copenhagen, a fully integrated investment team of 35 dedicated real estate professionals and an experienced senior management with over 20 years of direct real estate investment and development experience. For more information, please visit www.niam.se.

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.