Castlelake LP, a global alternative investment manager specializing in asset-based private credit, has partnered with Niam Credit, an alternative credit provider in Northern Europe, to provide financing solutions to the Nordic real estate market.
The partnership will deploy $1 billion on whole loan lending in Denmark, Finland, Norway, and Sweden. The first project of this partnership involves a just-closed transaction involving a portfolio of over 30 properties situated in central Oslo that includes residential, commercial, and medium-stay assets.
“The partnership with Castlelake represents Niam Credit’s first joint venture and we are thrilled to combine our local market expertise with their global reach,” said Pontus Sundin, CEO of Niam Credit. “We are also excited to announce our first joint project in Oslo that demonstrates our ability to support leading sponsors with substantial capital and tailored financing structures. We believe this transaction will provide a stable foundation as the Norwegian lending market has experienced difficulties during the last years.”
“Our partnership with the Niam Credit team will provide critical financing solutions tailored specifically to the needs of the Nordic market,” added Eduardo D’Alessandro, partner at Castlelake. “This venture reflects our relationship-oriented approach to the European real estate market and commitment to providing investors with exposure to compelling opportunities across regions.”
Photo of Oslo courtesy of Krzysztof Pałys / Pixabay
