The site enjoys a prime location merely 200 metres from the planned light rail station expected to open in 2025. The project will involve the construction of 11,000 square metres of rentable residential space distributed across 227 rental apartments. The building will be constructed using timber and will seek environmental certification with the aim of achieving at least Miljöbyggnad Silver.
Flexible investment strategy
“This is our second residential acquisition in Stockholm in a short period, and we have a strong pipeline with promising growth prospects in the sector going forward. We have considerable flexibility regarding transaction structures, allowing us to invest in finished residential properties, forward funding, forward commitments, and land with development rights. In addition, we have the capacity to handle project development in-house at Niam and are open to collaborative development partnerships. We look forward to working with our partners on this project, which will be a key addition to Stockholm’s expanding development,” says Henrik Gerdin, Fund Manager at Niam.
Sustainable apartments with halved carbon footprint
Derome, Sweden’s largest family-owned timber industry company, will be producing the timber construction, which will reduce the carbon footprint by 50% in comparison to traditional building materials.
“As a family business in the industry and a long-term focus we have been able to invest in a market where many others have chosen to hold back. This project confirms that our proposal, with industrial timber construction that reduces climate impact and shortens construction times, is perfectly in tune with the times. We are pleased to undertake this large and complex project with our two new partners and establish a long-term and successful relationship,” says Otto Martler, CEO of Derome Bostad.
Storsala has significantly expanded its residential development activities in recent years, with projects at various stages of development across Sweden. Orlando Villacrez, founder and CEO of Storsala, comments on the deal:
“This aligns perfectly with Storsala’s strategy to grow in attractive areas through both acquisitions and new development. By combining our extensive experience with sustainable investments, we can simultaneously expand our portfolio whilst creating long-term value for our stakeholders. This project will not only strengthen the housing offering in the area but will also contribute to the broader urban development of the region.”
The acquisition will be completed in December 2024, and a turnkey contract has been signed with Derome for the construction. Work is expected to commence shortly after year end, with completion anticipated in spring 2027.
Over the past decade, Niam has been one of the largest private buyers of residential properties in the Nordics and has executed some of the region's most significant residential transactions including Denmark’s largest-ever residential deal, valued at €1.7 billion.
For more information on Niam, please contact:
Emma-Lisa Runius, Head of Marketing and Communications Niam
emma-lisa.runius@niam.com, +46 709 460 666
About Niam
Niam is one of Northern Europe's leading real asset fund managers, focusing on real estate, infrastructure, and credit strategies. Since its inception in 1998, Niam has provided institutional investors with the opportunity to invest in the Nordic real estate market. Over the past 25 years, Niam has invested in properties valued at more than €12 billion and currently manages approximately €4.6 billion in assets across its three strategies: real estate, infrastructure, and credit. Learn more at www.niam.com.
About Derome
Derome is a family-owned business in the wood industry founded over 75 years ago. Its offerings range from forest management, sawmills, timber, construction, steel, and industrial goods, to completed houses and residential areas. Derome currently has 2,500 employees and an expected turnover of SEK 10 billion. For more information, visit www.derome.se.
About Storsala
Storsala is a real estate company with two main business areas - project development involving the construction of both single-family homes and multi-family residences, as well as investment properties. The company acquires, develops, sells, and manages sustainable, high-quality properties in desirable locations across the Stockholm region and Sweden's growth areas. Learn more at www.storsala.se.
