Niam Fund III and the Goldman Sachs managed Whitehall Street Real Estate Funds have agreed to acquire a property portfolio from Finnish real estate company Sponda for approximately €400 million.
The portfolio consists of parts of the Kapiteeli portfolio that Sponda bought from the Finnish government in December 2006. The portfolio consists of a significant number of properties in different sub-markets Finland. The disposal is part of Sponda's strategy to sell properties in order to refinance part of the credit raised to finance the Kapiteeli portfolio.
"We are very happy to enter into this transaction together with the Whitehall Funds, our long-standing partner," says Johan Bergman, Managing Director at the Swedish private equity firm Niam. "This acquisition is another cornerstone of the portfolio we are building in Finland, which we regard as one of our home-markets."