Private equity fund Niam signs largest real estate transaction ever in Denmark

Niam has signed an agreement to sell a Danish residential portfolio, which includes the real estate company HD Ejendomme, to Heimstaden. A total of 152 residential properties are included in the portfolio, comprising 6,237 residential units, of which several have been developed during Niam’s ownership. The residential portfolio mainly consists of terraced houses located across Denmark in large and mid-sized cities, such as Odense, Vejle, Horsens, Silkeborg and Randers. The transaction also includes a portfolio of 35 commercial properties, all located in the vicinity of the residential portfolio. The agreed disposition price for the transaction is ~€1.63 billion (DKK 12.1 billion), which, according to Real Capital Analytics, makes this the largest real estate transaction ever in Denmark.

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Early on, Niam identified the Danish housing market as attractive, partly because of the steady population growth but also the lack of modern and energy-efficient housing which increased the occupier demand, thus providing a stable investment case. In 2017, Niam acquired HD Ejendomme in Odense which has since served as a platform for asset management, transactions, and project development.

Henrik Gerdin, Niam Fund Manager, says: “We are very pleased to have successfully implemented our strategy to build a large and attractive residential asset management portfolio, while improving HD Ejendomme and its operational key figures. Niam has solid knowledge and experience of buying and managing residential portfolios in the Nordic region and will continue to be active in transactions, asset management and project development.”

Michael Berthelsen, Country Manager Denmark, says: „After several years of building a large portfolio at a high pace in conjunction with active asset management, we are pleased to hand over the company to a strong and professional residential owner like Heimstaden.“

Across all Niam’s funds, a total of 8,883 residential units have been acquired in the Nordic region and Niam’s funds have completed several residential development projects, ranging from initiating zoning plans up to completion.

The transaction is expected to close early in 2021, subject to antitrust clearance.

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Niam is one of the leading real estate private equity firm in Northern Europe with real estate assets under management of approximately €3.7 billion. We offer global institutions the opportunity to invest in the Nordic property markets. Niam was established in 1998 and has invested over €11 billion since inception. We have a fully integrated investment team of more than 70 dedicated real estate professionals with experience across all major asset classes. Niam is headquartered in Stockholm and has offices in Oslo, Helsinki, Copenhagen and Luxembourg. For more information, please visit www.niam.com.

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