Brunswick Real Estate (Brunswick) has announced the sale of its debt arm Brunswick Real Estate Capital to Niam for an undisclosed amount.
The divestment is in line with Brunswick’s strategy to focus on the investment arm, which currently embraces seven real estate companies across the Nordics for a total of €3 bn of AUM.
Brunswick Real Estate Capital I was established in 2013 as the first Nordic credit fund for senior secured financing of commercial real estate. Today, Brunswick Real Estate Capital has three credit funds with a combined asset under management in excess of €2.5 bn.
Patrik Andersson, CEO Brunswick Real Estate said: ‘Brunswick has had a strong development and growth over the last 10 years, and I am happy to see both our ventures and debt businesses moving on in new contexts – I see it as a proof that our business model of growing strong and independent companies works. We now focus the firm to grow our existing companies and create new exciting ventures.’
With Niam as a new owner, the debt funds will have the opportunity to develop as a complementary business unit to Niam’s well-established property and infrastructure funds. The firm will take the new name Niam Credit.
Pontus Sundin, CEO Niam Credit (former Brunswick Real Estate Capital) added: ‘I am very proud what the team developed under the wings of Brunswick over the past years. We have developed the firm from being pioneers in the real estate market to have a well-established operation with esteemed investors. With our new ownership structure, I look forward to developing the firm together with existing and new investors.’