Stockholm-headquartered Niam has acquired an office building near Oslo in Finland and sold three office properties in Denmark, just outside Copenhagen.
The purchased office is located in Lysaker, around a 10 minute car drive from central Oslo, Norway, and was bought from Union Real Estate Fund II Holding. The property covers approximately 22,500 m2 and is fully let to Cisco Systems Norway with a remaining lease term of 3.5 years.
Rikard Henriksson, managing partner at Niam said: 'When we acquire properties, we look for opportunities in all markets in the Nordic region and within all segments.
'The Lysaker area is a key transportation hub in the western fringe of Oslo. Major infrastructure investments are planned in the years to come making this property a good addition to our Norwegian portfolio.'
Niam has also divested three office buildings within a 20 minute drive of central Copenhagen, Denmark, to NREP. Together the properties comprise some 32,600 m2 of gross lettable area.
Two of the properties, VAT83 and Telefonvej, are in Gladsaxe, just northwest of Copenhagen. VAT83 is a modern, flexible and sustainable multi-user property with a DGNB Silver environmental certification. The anchor tenants are AGC Biologics, Lenovo and TEVA. Telefonvej is a fully let office and fitness property with Fitness World and Thales Denmark as the main tenants.
The third property, Nybrovej, is situated in Lyngby and covers some 10,000 m2. It is DGNB Silver environmentally certified and the anchor tenant is Danish Building and Property Agency.
Michael Berthelsen, Niam's country manager for Denmark said: 'We purchased these properties seven years ago and have succeeded in getting credible tenants in both VAT83 and Nybrovej as well as having the properties certified according to DGNB classification. We have now divested the properties to NREP who will continue to manage them and its tenants responsibly.'
Anders Østergaard Hansen, head of office investments, NREP, said: 'We look forward to meeting the existing tenants in the portfolio to hear about their plans and needs, which we look forward to finding solutions to. Flexibility and customer orientation are key words for us and the cornerstones of NREP's new office brand Woods.'
