Niam sells the Stockmann department store in Turku
Niam has sold the Stockmann department store located at Yliopistonkatu 22 in Turku to the Finnish real estate fund CapMan RE II.
The property comprises 12 700 sq m and is fully let to the Finnish department store Stockmann.
The property was part of a portfolio which Niam Fund III and the Whitehall Street Real Estate Funds acquired from the Finnish real estate company Sponda in February of this year.
The transaction also includes a shopping center in Turku, which is fully leased by several tenants.
Johan Bergman, Managing Director of Niam, comments: “We are very happy about this deal and will continue to actively manage with Whitehall the portfolio we bought from Sponda.”
The closing will take place on January 11, 2008.
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.
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