Nordic private equity group Niam has signed a binding agreement to dispose of the Pirsenteret office property to E.C. Dahls Eiendom, a subsidiary of Reitan Eiendom. Although the financial details were not disclosed, Swedish press reports put the deal price at around SEK 1.5 bn (EUR 170 mln).
Nordic private equity group Niam has signed a binding agreement to dispose of the Pirsenteret office property to E.C. Dahls Eiendom, a subsidiary of Reitan Eiendom. Although the financial details were not disclosed, Swedish press reports put the deal price at around SEK 1.5 bn (EUR 170 mln).
Pirsenteret is located in central Trondheim, Norway and comprises 63,500 m2 of space. The asset was bought by Niam Fund IV in the summer of 2009.
'The property has shown a satisfactory increase in value which makes it natural for us to sell it now,' said Kjell Sagstad, Investment manager at Niam in Norway. Closing is scheduled to take place during the first quarter 2012.
Pangea Property Partners advised the Reitan Group.
