2008-01-24 14:48Press release

Niam sells office portfolio in Stockholm

Niam and Whitehall Real Estate Funds have sold a portfolio comprising eight properties in southern Stockholm to Aberdeen Property Fund Pan-Nordic.

The sold properties were acquired by Niam Fund III and Whitehall Real Estate Funds in a joint venture in 2005. The portfolio comprises 70,000 sq m of lettable area. The majority of the lettable area (93%) consists of modern office space.

Johan Bergman, Managing Director of Niam, comments: “The property and capital markets are facing new conditions. By selling now we secure that our investors get a good return on their money.”

The closing will take place on March 5.

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.