About Niam

About Niam

Niam, founded in 1998, is a leading private equity real estate firm in Northern Europe with real estate assets under management of approximately €3.5 billion as of June 30, 2017. Our head office is located in Stockholm, Sweden, and we have local offices in the Nordic capital cities of Oslo, Helsinki and Copenhagen with a total of 50+ employees. Niam has one of the largest real estate teams specifically focused on the Nordic Region with 30 acquisitions and portfolio management professionals. We recognize that our core strength is our people and our success is dependent upon attracting and developing the top real estate professionals in the region. Simply stated…Niam is people.

Niam strives to be the Partner of Choice for Nordic real estate. Our network encompasses strong relationships that extend over decades with leading global institutional investors, European banks, tenants, municipalities and the local community. Our people in total have almost 700 years of real estate experience and the top managers average over 25 years of direct real estate experience. It is this collection of knowledge that makes Niam the Partner of Choice.

Our ambition is to be the leading private equity real estate firm in Northern Europe.  Our opportunistic funds target 18% -20% gross returns (approximately 15% net returns) and our core plus funds target approximately 10% net return.  Niam III and IV was strong top quartile performing funds as shown below.

q2-2016-benchmark
Note: Benchmarking data provided by Cambridge Associates, Q2 2016. The index is an end-to-end calculation based on data compiled from 495 opportunistic real estate funds, including fully liquidated partnerships, formed between 1988 and 2014. For vintage year 2004, the number of funds was 33 and for vintage year 2007 the number of funds was 65.

As part of our focus on top performance, Niam strives to be a leader in investor communication, reporting transparency and sustainability initiatives.

Pursuant to the law on alternative investment fund managers (AIFMD), Niam AB is authorized and regulated by the Swedish Financial Supervisory Authority to conduct alternative investment fund operations. Niam is also registered as an Investment Adviser with the SEC in accordance to the Dodd-Frank Act.

Investment Strategy

Niam's team of experienced real estate investment professionals draw upon their long-standing local relationships and experience of investing in the Nordic Region to analyze and interpret the property market on an ongoing basis. This foundation of expertise is combined with a formal analysis of macroeconomic conditions and their projected impact on the local property markets in order to shape an investment strategy. Niam uses a disciplined investment approach to identify opportunities with attractive risk-adjusted return and to strategically allocate capital within the Nordic region and among all asset classes.

Despite similarities between the Nordic countries, the individual markets in the Nordic region operate as independent economies rather than one homogenous market. Opportunities and risks are therefore not identical between each of the target markets. This dynamic allows for relative advantages including diversification benefits when making investments among the target countries. Furthermore, as one of the major property owners in the Nordic region, Niam is uniquely positioned to benefit from the data and property intelligence gathered from its own property holdings.

How we add value

Niam creates value through rigorous asset selection and active asset management. Niam employs a thorough and conservative underwriting approach centered upon achieving our targeted returns while limiting downside risk to the extent possible. We begin by generally selecting high quality, cash flow producing properties that should be positioned for sale to the institutional market once we have completed the objectives of our business plan. The Portfolio Management team focuses on adding value through NOI growth, focusing both on revenue growing and cost reducing strategies. Niam carefully evaluates tenant composition and lease structures and has proven success in driving change through tenant improvements, technical upgrades, redevelopments and developments in order to add value to each investment.

Case studies

Sweden Vasa Office Portfolio

latest_news_slideIn early 2008, the largest state-owned property company in Sweden, Vasakronan, was put on the market as part of a privatization initiative. The company was purchased by AP Fastigheter, the real estate group of Sweden’s largest public pension fund, in July 2008. Shortly there after in October 2008, Niam carved out 40 office properties totaling 455,000 sqm from AP Fastigheter.

Managing the lease stock - The Sweden Vasa Office Portfolio comprises 455,000 sqm of leasable area and over 900 leases. Sizeable portfolios create both administrative challenges and opportunities to drive value. Niam uses its highly experienced asset management team to renegotiate key leases, reduce vacancy and manage the needs of tenants. Niam extended or renegotiated ~60% of total lease stock during its holding period. For the top 10 lease renewals (which include 2 new leases) comprising approximately 100,000 sqm of leasable area, Niam managed to successfully increase rents and extend the lease duration to an average of 8 years.

Creating residential building rights - Niam uses its project development capabilities and relationships with local municipalities and developers to create value through the creation of building rights. Greater Stockholm has a significant undersupply of residential assets primarily due to rent regulations reducing the attractiveness of new construction and the steady increase of people to the area. Niam managed the planning and zoning process which involved working closely with local municipalities to develop and approve new residential concepts. Niam created 50,000 sqm of residential building rights associated with four properties valued at €45 million.

Finding the right buyer - Niam uses its local knowledge and network to identify the “right” buyer. We believed that the Sweden Vasa Office Portfolio would be more valuable by breaking the portfolio into sub-portfolios and individual assets and selling to the optimal buyer – to date Niam has sold 23 of 40 assets via 13 deals to 13 distinct buyers.

Norway Retail Portfolio

HerkulesNiam purchased Sektor Eiendomsutvikling, one of the largest shopping center companies in Norway, in April 2010 and purchased the Linderud Center as an add-on acquisition in February 2011. Sektor is the second largest shopping center company with three main areas of business: (i) retail center ownership; (ii) asset management for non-owned centers; and (iii) retail project development.

Completing development projects - Niam completed three development projects adding over 15,000 sqm of retail area and received approval for a 6,000 sqm retail area extension.

Growing net operating income (NOI) - Niam increased annualized NOI by 7.1% per year, driven by steady organic growth and project developments at existing shopping centers. In February 2011, Niam also grew the organization through the acquisition of the Linderud Senter, a 30,300 sqm shopping center located in the Oslo area. Including the Linderud Senter acquisition, annualized NOI grew 13.5% per year.

Management

Management team:
Fredrik Jonsson, Chief Executive Officer
Rikard Henriksson, Senior Director (Head of Asset Management)
Anders Lundquist, Chief Financial Officer
Jennifer Andersson, Chief Operating Officer
Johan Berfenstam, Senior Director (Head of Acquisitions, Sweden)

Niam’s Management Team and senior real estate team are comprised of professionals with extensive experience in originating, acquiring, financing, managing, reporting and disposing of complex and management intensive real estate transactions.

Kjell Sagstadkristpekk

Senior real estate team from left: Kjell Sagstad, Senior Director (Head of Norway) Kristian Krogh, Senior Director (Head of Denmark) Pekka Salakka, Senior Director (Head of Finland)

Each of Niam’s active funds also has a transaction committee that must approve deals prior to an acquisition or disposition.  This committee is constituted of members with deep experience from a broad field of industries including real estate, development, finance and capital markets. Members include Urban Edenström (Niam board member), Johan Bergman (Niam Chairman), Fredrik Jonsson (Niam CEO) the Fund manager and external professionals not affiliated with Niam or Stronghold who are highly regarded in their respective fields of business.  The following individuals are active members of one or more transaction committees.

Urban Edenström
Mr. Edenström is the founder, CEO and largest shareholder of the Stronghold Group.  Mr. Edenström also founded Datscha in 1997 and Niam in 1998.  He serves as board member of Niam, the Fund Transaction Committee, Newsec and Datscha.  Prior to founding Stronghold, Mr. Edenström was the CEO of FastighetsRenting AB, a €2.0 billion market capitalisation real estate company based in Sweden with property investments in Sweden, Norway, Finland and the UK.  Mr. Edenström holds a Master of Science in Real Estate Economics from the Royal Institute of Technology in Stockholm, Sweden, where he also took courses in Real Estate Law, Construction and Property Management.  He also studied business economics at The University of Stockholm and has taken various courses in business leadership, including courses at IMD in Switzerland.

Johan Bergman
Mr. Bergman is the Chairman of Niam AB since 2017.  Mr. Bergman joined Niam as CEO in 2006 and prior to that he spent 16 years with the Skanska Corporation, most recently as one of four Executive Vice Presidents directly responsible for five of the Group’s 15 business units, including commercial property development in the Nordic Countries and other European countries, residential project development in the Nordic Countries and construction units in Poland and Russia.  Previously, Mr. Bergman was in charge of business development for Skanska Fastigheter where he reported directly to Claes Björck, CEO of Skanska, and he has also been responsible for Skanska's project and real estate business outside of Sweden, specifically in Moscow, Warsaw, Prague, Budapest and Munich.  Mr. Bergman holds a Master of Science in Real Estate Economics from the Royal Institute of Technology in Stockholm, Sweden.  He also attended Harvard Business School's Program for Global Leadership in 2001.

Claes Kjellander
Mr. Kjellander is a former Chairman of SBAB (Swedish National Housing Finance Corporation).  From 2001 to 2005 Mr. Kjellander was the Managing Director of Jones Lang LaSalle in the Nordic Region.  From 1998 to 2001, Mr. Kjellander was Managing Director of Stenvalvet AB, which was 90% owned by Credit Suisse First Boston.  From 1993 to 1998, he was a CFO and Executive Vice President for Vasakronan AB.  From 1987 to 1993, he worked for ABB Fläkt where he served as Executive Vice President and Group Controller.  Mr. Kjellander holds a Bachelor of Science in Mathematics, Statistics, Computer Science and Business Administration from the University of Stockholm.  He has also completed post-graduate classes in Business Administration from the University of Stockholm.

Tomas Nicolin
Mr. Nicolin is a member of the board of directors of the Nobel Foundation; SEB, one of Sweden’s four major banks; Nordstiernan, an unlisted investment company; From 2004 to 2009, Mr Nicolin was the CEO of Alecta, a pension fund for private sector salary employees and from 1998 to 2004 he was the CEO of The Third National Swedish Pension Fund. From 1994 to 1998 Mr Nicolin was the Head of Asset Management at Handelsbanken and from 1985 to 1994 he was the CEO of Öhman Fondkommission, a family owned investment bank.  Mr Nicolin holds a bachelor in business administration from the Stockholm School of Economics and Master of Science in Management from Sloan School of Management, MIT.

Latest news

Niam sell property in Copenhagen for DKK 620.0 million

2017-11-02 08:03

Niam has agreed to sell a property in Frederiksberg, Copenhagen, to Swedish listed real estate company Kl ...

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Niam sell property in Copenhagen for DKK 620.0 million

Niam has agreed to sell a property in Frederiksberg, Copenhagen, to Swedish listed real estate company Klövern. The 19,300 sqm office and education property complex is fully let to CBS Copenhagen Business School.

Kristian Krogh, Senior Director Denmark says, “We have successfully completed our management initiatives ahead of schedule, and been able to sign a new long lease with CBS for their continued tenancy of the entire property.” He adds, “We are happy to be able to sell this prime asset to such a renowned and professional buyer, and to welcome Klövern to the Danish market”.

The transfer of possession is planned to take place on February 1, 2018. Catella Corporate Finance and Bruun & Hjejle Law firm has acted as advisor to Niam.

For more information, please contact:
Fredrik Jonsson, CEO, Niam AB
+46 8 517 585 23, fredrik.jonsson@niam.se

Kristian Krogh, Senior Director, Denmark
+45 21 31 00 55, kristian.krogh@niam.dk

For further information about Niam:
Jennifer Andersson, COO, Head of Investor Relations & Business Development, Niam AB
+ 46 8 5175 85 59, jennifer.andersson@niam.se

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Niam sells nine office properties in Helsinki, Finland

2017-10-25 17:03

Niam has entered into an agreement with Schroder Nordic Real Estate Fund to divest nine office propertie ...

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Niam sells nine office properties in Helsinki, Finland

Niam has entered into an agreement with Schroder Nordic Real Estate Fund to divest nine office properties located in the Greater Helsinki area. During the holding period, Niam has focused on active asset management, including BREEAM In-Use certification of a number of the holdings.

Fredrik Jonsson, Niam CEO, says, “During the last couple of years, Niam has built a significant holding in Helsinki’s office market and some of those assets have now been sold to Schroder Nordic Real Estate Fund. Niam will continue to be an active manager and investor in the Helsinki market.”

For more information, please contact:
Fredrik Jonsson, CEO, Niam AB
+46 8 517 585 23, fredrik.jonsson@niam.se

Pekka Salakka, Senior Director, Finland
+358 500 500 802, pekka.salakka@niam.fi

For further information about Niam:
Jennifer Andersson, Head of Investor Relations & Business Development, Niam AB
+ 46 8 517 585 59, jennifer.andersson@niam.se

Niam is the leading real estate private equity firm in Northern Europe with real estate assets under management of approximately €3.5 billion. Niam offers global institutions the opportunity to invest in the Nordic property markets. Niam was established in 1998 and has invested over €7 billion through its own funds since 2000. Niam has a fully integrated investment team of 55+ dedicated real estate professionals with experience across all major asset classes. The company is headquartered in Stockholm and has offices in Oslo, Helsinki and Copenhagen. For more information, please visit www.niam.com.

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Niam acquires office property in Horsens, Denmark

2017-07-04 11:00

On July 1, 2017, Niam acquired a landmark office property located in the city center of Horsens, Denmark. ...

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Niam acquires office property in Horsens, Denmark

On July 1, 2017, Niam acquired a landmark office property located in the city center of Horsens, Denmark. Horsens is a key city in the Aarhus Business Region, which is one of the fastest growing regions in Denmark. The property has a lettable area of 12,000 sqm and is fully let to the Municipality of Horsens and the Police Authority.

Kristian Krogh, Senior Director at Niam Denmark says; “We are happy to have acquired this fully let property in an excellent macro and micro location in the heart of the dynamic city of Horsens, where we expect further positive development in the years ahead.”

For more information, please contact:
Fredrik Jonsson, acting CEO, Niam AB
+46 8 517 585 23, fredrik.jonsson@niam.se

Kristian Krogh, Senior Director, Denmark
+45 21 31 00 55, kristian.krogh@niam.dk

For further information about Niam:
Jennifer Andersson, Head of Investor Relations & Business Development, Niam AB
+ 46 8 5175 85 59, jennifer.andersson@niam.se

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Mr. Fredrik Jonsson new CEO of Niam

2017-06-15 11:00

Mr. Johan Bergman has decided to take on the role of Chairman of Niam AB and Chairman in all of Niam&rsqu ...

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Mr. Fredrik Jonsson new CEO of Niam

Mr. Johan Bergman has decided to take on the role of Chairman of Niam AB and Chairman in all of Niam’s funds. Mr. Fredrik Jonsson, the current CIO of Niam, will assume the role of CEO and take over responsibility for the company’s operations effective July 1, 2017.

Over the last decade, Mr. Bergman has successfully grown Niam into its prominent position in the Nordics. In his new capacity as Chairman, he will be able to focus on high-level strategic considerations and support the continued success of Niam and Niam funds under Mr. Jonsson’s operational leadership.

For more information, please contact:

Johan Bergman, CEO, Niam AB
+46 8 5175 85 95, johan.bergman@niam.se

For further information about Niam:

Jennifer Andersson, Head of Investor Relations & Business Development, Niam AB
+ 46 8 5175 85 59, jennifer.andersson@niam.se

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Niam to acquire HD Ejendomme

2017-04-24 12:00

Niam has signed an agreement to acquire all shares in the private property company HD Ejendomme A/S. The ...

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Niam to acquire HD Ejendomme

Niam has signed an agreement to acquire all shares in the private property company HD Ejendomme A/S. The company owns and manages a real estate portfolio that has a total value of ~€560 million, consisting of approximately 2,000 residential units and 73 commercial properties, located across Denmark. The majority of the residential units were constructed within the last 15 years and are diversified in terms of type (urban townhouses, apartments, and houses) and by location.

HD Ejendomme was strongly affected by the financial crisis and since 2009, focus has been on successfully optimizing operations and reducing the balance sheet.

The sale to Niam will significantly strengthen HD Ejendomme economically and strategically, and enable the company to focus on the future, for the benefit of all stakeholders, including tenants and employees.

Johan Bergman, Niam CEO, says, “We are happy to acquire HD Ejendomme where we see potential in the well-managed residential portfolio. We think this platform provides a scalable base for further growth in this segment.”

For more information, please contact:

Johan Bergman, CEO, Niam AB
+46 8 5175 85 95, johan.bergman@niam.se

Kristian Krogh, Senior Director/Head of Denmark, Niam Denmark A/S
+45 2131 0055, kristian.krogh@niam.dk

For further information about Niam:

Jennifer Andersson, Head of Investor Relations & Business Development, Niam AB
+46 8 5175 85 59, jennifer.andersson@niam.se

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