2011-01-14 16:17Press release

Niam expands its retail portfolio in Norway

Niam has acquired Linderud Senter in Norway through its subsidiary Sektor Eiendomsutvikling from Braathen Eiendom Holding AS. The center has a lettable area comprising 28,000 sqm with approximately 80 tenants and generated just under NOK 600 million in turnover in 2010.

“Linderud Senter is a modern and well maintained shopping center that fits perfectly with our current portfolio of 27 shopping centers and we are excited about the opportunity to develop the center further”, says Eirik Thrygg, CEO of Sektor Eiendomsutvikling.

The acquisition of Linderud Senter is the first acquisition made by Sektor Eiendomsutvikling since it was acquired by Niam Nordic Fund IV in April last year and is a step in the continuous growth of Sektor Eiendomsutvikling as the most attractive shopping center owner in Norway.

“With Niam’s financial capacity and extensive real estate competence, we are well equipped to strengthen Sektor Eiendomsutvikling’s position”, says Kjell Sagstad, chairman of the board in Sektor Eiendomsutvikling and head of Niam’s operations in Norway.

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.