US alternative investment manager Castlelake and Swedish real assets fund manager Niam have partnered to provide €1bn in financing solutions, focusing on whole-loan lending in the Nordic real estate market.
The partnership – which will focus on lending in Sweden, Norway, Finland and Denmark – has completed its first deal involving a NOK1.9bn (€162m) senior secured financing facility for a portfolio of over 30 prime residential, commercial and medium-stay properties in central Oslo.
Pontus Sundin, CEO of Niam Credit, said: “The partnership with Castlelake represents Niam Credit’s first joint venture and we are thrilled to combine our local market expertise with their global reach.
“We are also excited to announce our first joint project in Oslo that demonstrates our ability to support leading sponsors with substantial capital and tailored financing structures. We believe this transaction will provide a stable foundation, as the Norwegian lending market has experienced difficulties during the last years.”
Eduardo D’Alessandro, partner at Castlelake, said: “Our partnership with the Niam Credit team will provide critical financing solutions tailored specifically to the needs of the Nordic market.
“This venture reflects our relationship-oriented approach to the European real estate market and commitment to providing investors with exposure to compelling opportunities across regions.”
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