Niam sells Stockholm properties to Fabege (SE)

Niam has sold the famous Dagens Nyheter skyscraper (Trängkåren 7), which is a Stockholm landmark, and another Stockholm city center office building (Grönlandet Södra 13) to the listed Swedish property company Fabege.

The sold properties were part of a portfolio which Niam acquired from the Norwegian company Acta Kapitalförsäkring in October last year. Besides Trängkåren 7 and Grönlandet Södra 13, the portfolio included three other assets (e.g., the Electrolux headquarters) in Stockholm and in Lund. One of these, the headquarters of Biovitrum, was sold to PRUPIM in May 2007.

Johan Bergman, Managing Director of Niam, comments: "The remaining assets in the portfolio are those that Niam can develop. We are planning to build an extension to the building in Lund, which Ericsson sublets, and to develop the Electrolux headquarters building further during 2008."

Source: Niam

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