Nordic private equity firm Niam has entered into an agreement to sell 436 apartments to Heimstaden, a Swedish property company, for DKK 1.4 bn (€188 mln).
Nordic private equity firm Niam has entered into an agreement to sell 436 apartments to Heimstaden, a Swedish property company, for DKK 1.4 bn (€188 mln).
The portfolio comprises 44,000 m2 of space distributed over nine different properties in the Copenhagen area. The properties were acquired by Niam in 2012-2013. The transaction will close on 1 March 2016.
'We timed our entry into the Copenhagen residential market well and the sale generates an attractive return to our investors,' said Niam's CEO Johan Bergman. 'We continue to have a positive view on the market and after the sale we will still own approximately 400 residential units in the Copenhagen area.'
