Niam raises €700m for latest vehicle

The Stockholm firm is arming itself with up to €3 billion of acquisition firepower to deploy in the Nordic and Baltic countries.

Niam AB, the Swedish firm, has riased its fourth real estate vehicle, coralling €700 million from investors.

Niam Fund IV, an opportunity fund, will target office, commercial and logistics properties with an acquisition value of at least €75 million. The equity will be invested via Niam’s organisations in Sweden, Finland and Norway as well as collaborative partners.

Johan Bergman, chief executive officer, said the vehicle could invest in entire property portfolios, corporate acquisitions or individual properties.

Predecessor fund, Niam III, is fully invested having completed investments in major Finnish portfolios as well as office blocks in the Marievik and Globen districts of Stockholm and a head office and central storage facility in Latvia.

The fund has recently been in divestment mode. At the end of January, Niam announced the sale of an eight-strong portfolio in southern Stockholm owned in conjunction with Whitehall Real Estate Funds.  That deal is slated to complete March 5, according to Niam.