Niam sells a portfolio of community properties located in Solna, Stockholm, Malmö and Lund for approximately SEK 2 billion (approx. €220,3 mln). The largest tenants are the Swedish National Courts Administration and the Swedish Police Authority where the average remaining lease length is ~9 years. The buyer is Hemsö who will assume control of the properties in September 2014.
Stefan Albinsson, Niam Fund Manager says, “This portfolio is an excellent example of how Niam adds value to properties with an already stable cash flow. During the holding period we have renegotiated and signed a new 15-year lease with the Swedish Police Authority, expanded the Solna District Court and made significant savings in the operation of the Administrative Court in Stockholm with the installation of a geothermal heating system.”
The community property portfolio consists of Tegen 6 (Solna), Bremen 3 (Stockholm), Von Conow 57 (Malmö) and Häradshövdingen 2 (Lund).