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 €3.6 billion. 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 55+ employees. Niam has one of the largest real estate teams specifically focused on the Nordic Region with 35 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.

Note: Benchmarking data for European opportunistic real estate funds provided by Cambridge Associates, Q3 2017. For vintage year 2004 the number of funds was 8, for vintage year 2007 the number of funds was 14, and for vintage year 2011 the number of funds was 5. The net IRR for Niam III and Niam IV are the final net figures as these funds are fully divested. The net IRR for Niam V is the marked-to-market figure as of September 30, 2017.

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 Sagstadkrist

Senior real estate team from left: Kjell Sagstad, Senior Director (Head of Norway) Kristian Krogh, Senior Director (Head of Denmark) Antti Muilu, 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.

Latest news

Niam acquires retail assets in Helsinki

2018-01-31 10:50

Niam has signed unconditional agreements to acquire Suurpelto Retail Center and Laajasalo Retail Center i ...

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Niam acquires retail assets in Helsinki

Niam has signed unconditional agreements to acquire Suurpelto Retail Center and Laajasalo Retail Center in Helsinki from NCC Property Development Oy.

Suurpelto Retail Center opened in November 2017 and is in an excellent location in the growing Suurpelto city district of Espoo, just next to Ring Road II. The property has a lettable area of 4,500 sqm and is fully let and anchored by a Kesko grocery store. Laajasalo Retail Center is scheduled to open in November 2018 and is in the attractive and growing Laajasalo area in the city of Helsinki. The property has a lettable area of 8,400 sqm and is already almost fully let and anchored by two grocery stores, Kesko and HOK-Elanto.

Fredrik Jonsson, Niam CEO, says, “We are excited to acquire Suurpelto and Laajasalo Retail Centers. The combination of brand new centers in attractive and growing areas and the clear focus on everyday needs provides the investment stability that we are looking for.”

For more information, please contact:
Fredrik Jonsson, CEO, Niam AB
+46 8 5175 85 23, fredrik.jonsson@niam.se

Victor Wettergren, Fund Manager, Niam AB
+ 46 8 5175 85 25, victor.wettergren@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 sells retail portfolio in Sweden

2017-12-19 08:45

Niam has signed an agreement to sell eight retail properties, comprising 100,000 sqm, to Svenska Handelsf ...

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Niam sells retail portfolio in Sweden

Niam has signed an agreement to sell eight retail properties, comprising 100,000 sqm, to Svenska Handelsfastigheter. The properties are located in regional shopping destinations in Umeå, Kalmar, Norrköping, Gävle and Mora and were acquired by Niam in 2015 and 2016. During the ownership period, Niam actively worked to reduce vacancies and extend contracts with existing tenants. Successful leasing and renegotiation accounted for some 23,200 sqm (23% of portfolio sqm) since acquisition.

Victor Wettergren, Fund Manager at Niam says; “We are very pleased to have successfully implemented our active management strategy in these properties in order to create an attractive portfolio from separately acquired properties."

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

Victor Wettergren, Fund Manager, Niam AB
+ 46 8 5175 85 25, victor.wettergren@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 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 16:03

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

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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 10:00

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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