Niam Fund III has recently sold the property Paradiset 14 for approximately €41 million. The acquirer is PRUPIM, hereby making their first acquisition in Sweden, on behalf of the M&G European Property Fund.
”Paradiset 14”, located at Kungsholmen in Stockholm is the headquarters of Swedish medical firm Biovitrum. It comprises two buildings totalling 11 300 sq m, which houses offices, laboratory premises and pharmaceutical production.
Johan Bergman, Managing Director at the Swedish private equity firm Niam comments: “The property was acquired as part of a large portfolio. It has been fully developed for some time, and Biovitrum is a single tenant on a long lease.”
PRUPIM’S David Jackson, Fund Manager comments: “We are very pleased to have completed our first prime asset purchase in Sweden on behalf of the M&G European Property Fund. Sweden is currently a leading destination for institutional investment in Europe, offering a robust historical, current and forecasted economy as well as strong rental growth. With our experience in managing similar assets globally, we are confident we will deliver strong performance on this asset.”
Jones Lang LaSalle advised PRUPIM and Newsec Investment advised Niam.
Johan Bergman, Managing Director, Niam AB +46 8 5175 8500
Felicia Wipp, Communication Manager, Niam AB +46 8 5175 8529
Natalie Brooke, PR Manager, PRUPIM +44 (0)20 7548 6976
Note to the editor:
Niam is the leading private equity firm in Northern Europe 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. Since the company was founded in 1998, properties with a total value of €3.3 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 €1.5 billion. Niam Fund III has an investment capacity of approximately €1.8 billion.
PRUPIM is a top 10 global real estate investment manager* and a top three European investor**. PRUPIM has over £19 billion invested in a broad spread of properties across Europe, North America and the Asia Pacific region (as at 31/12/06). PRUPIM is part of M&G, the investment arm of Prudential plc in the UK and Europe.
*Source: Banker, April 2007.
** Source: Europroperty, May 2007.
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.