Heimstaden, a Swedish property company, has agreed to acquire 114 residential units in the Danish capital Copenhagen from Stockholm-based private equity firm Niam.
The investment volume comes to DKK 422 mln (鈧�56.6 mln).
Niam had acquired the 13,800 m2 portfolio, spread across four locations in the greater Copenhagen area, in 2013. The transaction follows the sale of another residential portfolio of 436 units in Copenhagen agreed between the parties earlier this year.
Niam CEO Johan Bergman said, 'We are happy to once again do business with Heimstaden. We entered the Copenhagen residential market with good timing and the divestments generate attractive returns for our investors. We have an unchanged positive view on the Danish property market and we expect to continue to be a significant and active investor going forward.'
The transaction is expected to close on 1 October 2016.
