Niam Real Estate divests four retail properties in Sweden for €86m

Northern Europe asset manager Niam Real Estate is selling four retail properties, totalling about 48,000 m2 to Svenska Handelsfastigheter for SEK 928.5 mln (€86 mln).

Bernstorp

Niam divested the properties on behalf of its Core-Plus II fund.
The properties in Malmö's Bernstorp retail park are fully leased to 22 tenants, including major brands like Bauhaus, Jula, McDonald’s and Elgiganten. The annual rental income amounts to SEK 74 mln (€6.8 mln).
The addition of a nearby Costco and a large Biltema store is expected to further boost the area's appeal and customer traffic. 
This sale aligns with Niam's strategy of investing in well-placed assets with reliable income and realizing profits through active management.
Rikard Henriksson, managing partner at Niam, said: "This transaction reflects the successful execution of our value-creation strategy for the Bernstorp portfolio. We are pleased to hand over a fully leased and well-positioned retail cluster to Svenska Handelsfastigheter, a long-term owner with a focused retail platform." 
Jöran Rydberg, transaction manager at Svenska Handelsfastigheter, added: "Bernstorp is Skåne and the Öresund region's most expansive retail space with strong tenants. It is an area that also offers great development potential for both the tenants and the region's further growth. Bernstorp's exceptionally attractive location in the Öresund region - between Malmö, Lund, and Copenhagen - accounts for a catchment area of almost 600,000 residents within just a 25-minute drive. We are very pleased to now strengthen our presence in the very expansive region." 
The sale is expected to finalize on May 26, pending standard closing procedures. 
Cushman & Wakefield and Roschier Advokatbyrå acted as advisors to Niam, while Svenska Handelsfastigheter's advisors were Wigge & Partners Advokat, Deloitte, and Anthesis.
The Bernstorp purchase brings Svenska Handelsfastigheter's portfolio to over 300 properties, valued at over SEK 20 bn (€1.8 bn), across almost 150 municipalities.