EUROPE Quality investment – Sofia Granlund, the CEO of Stena Real Estate

Could you tell us something about the history of Stena Real Estate, how your group became involved in the Polish and US property scene, and the scale of your operations and portfolio?

Stena Real Estate is part of Stena Fastigheter, one of Sweden’s largest privately owned real estate companies and a core business within the Stena Sphere group. In Poland, we have, in recent years, built up a portfolio of modern, sustainable office properties in prime locations, where we see strong fundamentals and demand for high-quality space. In the US, we have been the owner of properties in a growing submarket of Houston for many years and have been working continuously to upgrade them to meet tenants’ evolving requirements for quality, technology and sustainability. Across all markets, our focus is clear: well-located, modern and energy-efficient offices that will remain attractive to tenants and preserve their value over time.

Stena Real Estate has just finalised the acquisition of the Studio A office building in Warsaw, which together with Studio B (which you purchased earlier), has made you the owners of the entire complex. Is this a sign that you are confident about the future of the Warsaw and Polish office market?

Yes, it does. By acquiring Studio A and becoming the owner of the entire Studio complex, we are clearly signalling our long-term confidence in Warsaw and in the Polish office market. We see Warsaw as one of Europe’s strongest and most dynamic office locations. In the current macroeconomic environment, we are very focused on a “flight to quality” – concentrating on hi-tech, sustainable and flexible offices in the most attractive areas. Studio A and Studio B fit that profile very well, which we believe is key to maintaining values and ensuring continued demand from both tenants and investors.

You also own office properties in Wrocław and Kraków. Are you planning to add to your portfolio in these or other Polish cities? And what plans do you have for the assets in your portfolio?

Poland is a strategic market for us, and that includes Wrocław and Kraków, where we see strong, knowledge-driven economies and a continued need for modern office space. We are open to selectively growing our portfolio in Warsaw, Wrocław, Kraków and potentially other cities, but only where new investments clearly strengthen our profile: high-quality, sustainable buildings in locations that tenants actively choose. For the assets we already own, our focus is on active management – improving the technical and environmental performance and working closely with tenants to ensure the buildings support their way of working.

I believe all the properties you own in Poland were developed and sold to you by Skanska. Is this special relationship likely to continue into the future?

It is correct that all our Polish office properties, including Studio A and Studio B, have been developed and sold to us by Skanska. We value this relationship highly. We share a strong focus on sustainability, quality and innovation, which makes Skanska a very good partner for us as a long-term owner. We never comment on specific future transactions, but we certainly see this cooperation as successful and mutually beneficial. Where future projects match our investment criteria and strategic focus, we would be very open to continuing this partnership.