Nordic investor Niam has acquired the Heron City shopping centre in Kungens Kurva, Stockholm on behalf of its Niam Nordic Fund IV, which is now fully invested. The asset was sold by UK property investment and development company Heron International.

Although the financial details were not disclosed, the mall is believed to have been traded for some EUR 90 mln.

Completed in 2011, the property comprises approximately 46,000 m2 of primarily retail area. The transaction is expected to close on April 15, 2011.

'Heron City is an excellent complement to our retail portfolio of Swedish and Norwegian retail properties and represents the final investment in our fourth opportunistic fund, which is now fully invested,' said Johan Bergman, CEO of Niam.

The company is currently raising Niam Nordic V, which has been open for investments since the beginning of March and will have an investment capacity of approximately EUR 2.5 bn.