Niam & Magnolia Bostad are developing 350 residential units in Sweden
Niam has entered into a joint-venture with Magnolia Bostad to develop two residential blocks in Gothenburg, Sweden. The project is estimated to include around 350 condominiums and rental apartments, in varying sizes.
The project is close to the area’s central hub with shops, services and restaurants as well as tram lines with travelling time to central Gothenburg in under 20 minutes. The development area is on the grounds of an old factory and will during the coming years undergo an expansion with about 1,000 new residential units.
Daniel Andersson, Head of Acquisitions Sweden says, “We are very happy to collaborate with such a prominent residential developer as Magnolia Bostad and to contribute to the positive development of Gothenburg."
The estimated construction start is Q1 2022, and completion is estimated during Q4 2024.
For more information, please contact:
Daniel Andersson, Head of Acquisitions Sweden
+46 705 55 08 35, daniel.andersson@niam.com
For more information about Niam, please contact:
Rikard Henriksson, Managing Partner
+46 8 5175 85 63, rikard.henriksson@niam.com
About Niam AB
Niam is one of northern Europe's leading fund managers with a focus on investments in real estate and infrastructure. Since its inception in 1998, Niam has offered institutional investors the opportunity to invest in the Nordic real estate market through their funds. With extensive experience and expertise, the focus is on identifying and implementing improvements that create the best properties for our tenants and the communities where they are located with the goal of meeting both current and future needs. For the past 23 years, Niam has invested in properties of more than €11.5 billion and today they manage a property portfolio of approximately €2.4 billion. Niam Infrastructure focus on sustainable investments within renewable energy, transportation and telecom in the Nordics and northern Europe. The platform's first fund concentrates on small to medium-sized investments with a focus on asset aggregation and risk reduction in primarily sustainable infrastructure. Niam has more than 85 employees with offices in Stockholm, Helsinki, Oslo, Copenhagen and Luxembourg. For more information, please visit www.niam.com.
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