Nordic investment manager Niam is buying a Danish real estate firm with €560m of residential and commercial assets.

The Stockholm-based private equity firm said it has agreed to buy HD Ejendomme, a private property company based in Odense.

The firm owns 2,000 residential units and 73 commercial properties.

Johan Bergman, chief executive of Niam, said: “We are happy to acquire HD Ejendomme where we see potential in the well-managed residential portfolio.

“We think this platform provides a scalable base for further growth in this segment.”

Niam said HD Ejendomme, strongly affected by the financial crisis, has focused on optimising operations and reducing its balance sheet.

Most of its residential units were built within the past 15 years.

Niam last year raised capital for both opportunistic and core-plus strategies.