Svea Artilleri

Svea Artilleri was a 12,800 m² office property at Löjtnantsgatan 21 in central Stockholm, beside Stockholms Stadion. Genesta acquired it from AFA Fastigheter in 2018, renovated it through 2021–22, and divested it in March 2023.

Key Facts

Name: Svea Artilleri
Country: Sweden
City: Stockholm
Address: Löjtnantsgatan 21, 114 33 Stockholm
Sector: Office
Fund: GNRE Fund II
Status: Realised
Acquisition: 2018
Divestment: 2023
Construction Year: renovated 2021/2022
Total Area: 12 800 m²
Parking: 70

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Investment Highlights

Location: Löjtnantsgatan 21 in central Stockholm, next to Stockholms Stadion.
Scale: 12,800 m² of office space with 70 parking spaces.
Acquired 2018: bought from AFA Fastigheter on behalf of GNRE Fund II.
Renovated 2021–22: extensively modernised into contemporary office space.
Letting success: new tenants secured during the programme, including a ten-year lease with the Nasdaq-listed medical technology company Tobii Dynavox for over 1,300 m².
Divested 2023: sold in March 2023.

Investment Story

Genesta acquired Svea Artilleri from AFA Fastigheter in May 2018, a 12,800 m² office building on Löjtnantsgatan beside Stockholms Stadion. The asset was taken through an extensive renovation during 2021 and 2022, repositioning it as modern office space in a central Stockholm setting.

Leasing followed the works. Among the new tenants was Tobii Dynavox, the Nasdaq-listed world leader in communication aids, which signed a ten-year contract for just over 1,300 m² of newly renovated space. The property was divested in March 2023 on behalf of GNRE Fund II.

Investment Rationale

The property sat in an established central Stockholm location beside Stockholms Stadion, a submarket with steady occupier demand and limited new supply. Acquiring from AFA Fastigheter in 2018 gave Genesta a substantial building where the value lay in modernising dated space rather than in the land or location alone.

Execution followed the standard value-add sequence: renovate, then let. The 2021–22 programme delivered contemporary space and attracted new tenants on long leases, with Tobii Dynavox committing for ten years across more than 1,300 m². With the asset modernised and income secured, Genesta divested in March 2023 on behalf of GNRE Fund II.

Our Insight

Property Updates

The latest news, transactions and announcements related to this property.

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Divestments 14/03/23

Genesta Sells Svea Artilleri in Stockholm

Genesta sells the office property Svea Artilleri in central Stockholm on behalf of its fund GNRE Fund II. The approximately 13,300 square meter building on Löjtnantsgatan 17-25 was acquired in May 2018 and the property has since undergone extensive renovation and expanded with 700 square meters.

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News 28/10/19

Opening soon - Svea Artilleri Showroom

Even though you have a strong idea of what you want, finding the new right office premises can be really difficult. Get ready, in a couple of weeks we will open the doors for you!

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News 22/05/18

Genesta Acquires Inner City Office Property In Stockholm, Svea Artilleri 10 & 11

Genesta has entered into a sale and purchase agreement to acquire the office properties Svea Artilleri 10 & 11 totaling 12,800 sqm on behalf of Genesta Nordic Real Estate Fund II (GNRE Fund II) from AFA Fastigheter.

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Contact

Key Contacts

Country: Sweden
Name: Ted Söderlund
Position: Head of Investment Management Swedish Team, Director, Partner
Phone number: +46 8 506 497 09
E-mail: Send e-mail