Northern Europe real assets manager Niam has bought a 56,719sqm portfolio of Swedish retail property from CBRE Investment Management for an undisclosed amount.
The assets comprise Port 73, a 35,000sqm hybrid shopping centre and retail park in Haninge southeast of Stockholm, and Gallerian Nian, a 22,000sqm urban shopping centre in Gävle.
CBRE IM said the disposal was made on behalf of a European shopping centre strategy.
Jenny Tuleby, the head of CBRE IM’s transactions and investment operations for the Nordics, said: “We are pleased to conclude this strategic sale on behalf of our clients.
“During our hold we have managed to improve layout, tenant mix and profile, and created a stable source of income. We see increasing demand for retail assets that are well-located and have a diverse and convenience-anchored retail offering.”
To read the latest edition of the latest IPE Real Assets magazine click here.
