Niam sells shopping centre in Finland

Niam and Whitehall Real Estate Funds along with Etera Mutual Pension Insurance Company and Apteekkien Eläkekassa have sold the Pasaati Shopping Centre to Kauppakeskuskiinteistöt FEA Ky, a fund managed by Aberdeen Property Investors Finland Oy.

The sold shopping centre was part of the Sisu Commercial Portfolio acquired by Niam Fund III and Whitehall Real Estate Funds in a joint venture in 2007. It is the biggest shopping centre in the southeast part of Finland located in the city centre of Kotka. The whole shopping centre comprises almost 30,000 sq m of lettable area, of which Niam/Whitehall owned approximately 30%.

Johan Bergman, Managing Director of Niam, comments: “We are very satisfied with the results of this sale in a constantly changing market. We continue to closely follow the market and execute on transactions that we believe in.”

The closing took place on July 1. The Sellers’ advisor was Newsec Oy.

For further information, please contact:

Johan Bergman, Managing Director, Niam AB +46 8 5175 8500

Jennifer Andersson, Director, Niam AB +46 8 5175 8559

Pekka Salakka, Senior Director, Niam AB +35 8 5005 00802