€719m committed to Niam Nordic property fund

Stockholm based Niam has closed its fifth property fund, Niam Nordic V, with €719m in total equity commitments, beating its €600m target.

Investors include global public and corporate pension funds, sovereign wealth funds, endowments and financial institutions, Niam said.

The fund will have an overall €2.2bn investment capacity, and will invest through Niam’s locally based organisation in Stockholm, Oslo, Helsinki and Copenhagen. It will include both commerical and residential properties.

Including Niam III, IV and V, Niam will have a €3.3bn property portfolio. Since the company’s start in 1998 it has invested more than €5.5bn in the Nordic and Baltic property markets on behalf of its own funds or financial partners, achieving a gross leveraged internal rate of return (IRR) of 31%.

Niam is part of the Stronghold group of businesses, which includes property adviser Newsec and the Datscha property database.

 

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