Northern European private equity real estate firm Niam has sold two office properties in the Swedish city of Malmö.
Northern European private equity real estate firm Niam has sold two office properties in the Swedish city of Malmö.
The office properties Kronan 10 & 11 in central Malmö were acquired by DEREIF SICAV-FIS, a fund managed by Corpus Sireo. The financial details were not disclosed, and the transaction is set to close on 12 September 2013.
Stefan Albinsson, fund manager at Niam commented, 'By working actively to renegotiate and extend current leases in the properties, Niam has created more attractive assets with a low risk profile for which there is strong demand under the current market conditions.'
Since inception in 1998, Niam has invested over €6.5 bn through its own funds or on behalf of its financial partners and has generated a realised gross leveraged IRR of 30%. The company is headquartered in Stockholm and has offices in Oslo, Helsinki and Copenhagen.
