Niam is adding a 43,000sqm asset to its commuter hub portfolio in Sweden.
The €3.7bn real estate private equity firm has agreed to buy Haninge Centrum in Stockholm from Grosvenor Europe for an undisclosed sum.
Haninge Centrum is part of Grosvenor’s European Retail Partnership Fund. Grosvenor acquired the asset from Unibail-Rodamco in 2011 as part of a wider portfolio. The hub has retail and leisure offer with around 80 units.
The latest deal follows the Niam’s last week announcement to buy three commuter hubs totalling just over 57,000sqm located in Tumba, Högdalen and Fruängen, all of which are suburbs of Stockholm.
Daniel Andersson, head of Niam’s acquisitions in Sweden, said: “Haninge Centrum will be a good addition to the other commuter hubs in the portfolio. We look forward to collaborating with our tenants and Haninge Municipality to continue the development of Haninge Centrum to a vibrant hub that meets the everyday needs of our visitors.
“With the support of large housing development projects, population growth in the immediate area is expected to significantly exceed most other areas in Sweden over the next ten years, which gives Haninge Centrum good conditions for increasing the number of visitors and sales.”
Carl Strufve, a director in the Nordics at Grosvenor Europe, said: “This divestment is a part of our investment strategy and we will continue to actively invest in the Stockholm region.
“Since the acquisition in 2011 we have focused on turning Haninge Centrum into a lively city centre and once Niam takes possession, the property will be in much better condition than when we acquired it, with great development potential.”
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