Niam, one of the largest private property owners in the Nordics, has acquired a 24,500 m2 office building in Gothenburg from Torslanda Property Investment (TPI) for an undisclosed sum.
The deal is expected to close on 1 October. The property is a modern office building with a standalone parking garage. The office building was built in 2017 and is fully leased to Volvo Cars.
The property is located in Torslanda, only 15 minutes northwest of central Gothenburg. The area is dominated by Volvo Cars' production, warehouses, and offices. The office building, which is Volvo Car's most modern office space in the area, also provides tenants with a restaurant run by Volvo through the operator 'Harvest by Mannerström'.
Daniel Andersson, head of acquisitions Niam Sweden, said: 'This modern office property has a very strategic location, and we look forward to taking over the property from TPI and continue to manage it well and meet the needs of Volvo Cars.'
Stefan Berg, CEO of Torslanda Property Investment, said: 'The property was built in 2017 for Volvo Cars, which was then offered modern environmentally classified premises.
'Through the divestment to Niam, TPI releases capital at the same time as we have been able to attract a leading institutional investor to the Torslanda area, where TPI has the majority of its properties. The goal is to continue to invest in the property portfolio in Torslanda in close collaboration with the company's largest customer, Volvo Cars.'
