The collaboration brings together Niam Credit’s local market expertise and origination capabilities with long-term institutional capital. Together, the partners aim to address the growing demand for flexible, non-bank financing solutions in the Nordic real estate market.

As a first milestone under the partnership, a mezzanine financing has been completed as part of a SEK 715 million debt capital structure secured against a fully let, prime office property located in central Stockholm. The financing supports the refinancing of existing debt and the sponsor’s general corporate purposes.

The transaction is structured alongside a senior facility provided by Aareal Bank, with Niam Credit acting as arranger and investment manager for the mezzanine investment.

“This partnership represents an important step in the continued development of Niam Credit’s platform. By pairing long-term institutional capital with our differentiated local sourcing, structuring and asset-level underwriting capabilities, we can offer financing solutions that are both flexible for borrowers and attractive on a risk-adjusted basis for investors. Completing our first transaction together is a strong validation of this model,” says Emma Jack, Co-Head of Niam Credit.

The partnership is intended as a long-term platform, supporting multiple transactions across the Nordic region over time. It enables Niam Credit to further broaden its financing offering across mezzanine, whole-loan and development-related solutions, while maintaining a conservative risk profile and a strong focus on downside protection.