Swedish property group Niam has acquired a Copenhagen residential portfolio totaling 65,000 m2 from an undisclosed vendor for DKK 1.3 bn (EUR 175m). The portfolio consists of 646 condominiums located in the greater Copenhagen area. The majority is located on the Copenhagen harbour front.

‘Niam is confident that the residential market in Copenhagen is a very attractive investment area that will continue to benefit from economic and population growth in the years ahead,’ said Niam CEO Johan Bergman in a statement.

Niam describes itself as the leading real estate private equity firm in Northern Europe. Since its foundation in 1998, the company has invested over EUR 5 bn through its own funds or on behalf of its financial partners and has generated a realised gross leveraged IRR of 31%.