Nordic real estate investor Niam has bought a 24,500sqm office building in Sweden from Torslanda Property Investment (TPI) for an undisclosed sum.

The office building in Torslanda, Gothenburg was built in 2017 and is fully leased to Volvo Cars.

Daniel Andersson, the head of acquisitions Niam in Sweden, said: “This modern office property has a very strategic location, and we look forward to taking over the property from TPI and continue to manage it well and meet the needs of Volvo Cars.”

Stefan Berg, CEO of Torslanda Property Investment, said: “The property was built in 2017 for Volvo Cars, which was then offered modern environmentally classified premises. Through the divestment to Niam, TPI releases capital at the same time as we have been able to attract a leading institutional investor to the Torslanda area, where TPI has the majority of its properties.

”The goal is to continue to invest in the property portfolio in Torslanda in close collaboration with the company’s largest customer, Volvo Cars.”

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