Niam has entered into an agreement to sell a residential portfolio of approximately 13,800 sqm to Heimstaden, a Swedish property company for a price of approximately DKK 422 million (€56.6 million).
The portfolio was acquired by Niam in 2013 and comprises 114 residential units located in four different locations in the greater Copenhagen area.
The sale follows a successful transaction of a residential portfolio of 436 units in Copenhagen between the parties earlier this year.
Johan Bergman, Niam CEO, says; “We are happy to once again do business with Heimstaden. We entered the Copenhagen residential market with good timing and the divestments that we have executed generate attractive returns for our investors” and he continues: “We have an unchanged positive view on the Danish property market and we expect to continue to be a significant and active investor going forward.”
The transaction will take place with effect as of October 1, 2016.