The Nordics’ Niam acquires retail park in southern Sweden

Solasen Center Jonkoping. Foto Anna Hallams

Swedish property company Niam has acquired a retail park in Jönköping, southern Sweden from Stockholm headquartered fund and investment manager Genesta.

The retail park, Solåsen Handel, comprises three buildings and has a lettable area of 36,000 sq m with 22 occupiers. The largest tenants are K-Rauta, Leos lekland, XXL, MediaMarkt and Rusta. A new store is currently being constructed for Dollarstore .

Genesta acquired the asset in 2018 on behalf of the GNRE Core Plus fund. The transaction is the first acquisition in Sweden for the Niam Core-Plus III fund, most of whose capital originates from European pension funds and financial institutions. The fund acquires residential, office, logistics, public-use and retail investments in the four Nordic countries.

“Niam will continue to strengthen the retail park even further by, for example, various ESG initiatives,” said Niam fund manager Victor Wettergren.

AG Advokat was Niam’s legal advisor in the transaction, Gernandt & Danielsson advised Genesta.