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Castellum 2021 in brief

Castellum 2021

 The year in brief

The year in brief

2021 was another eventful year, with Castellum continuing to grow. Activities carried out during the year were a part of the long-term strategy for delivering on the growth target, and help to reinforce Castellum’s position as one of the Nordic region’s largest commercial property companies.


Development of offices in Slakthusområdet district

Castellum is developing an entire city block with offices in Stockholm’s Slakthusområdet district, a stone’s throw from Tele2 Arena. 25,000 square metres of modern premises for workplaces.

Launch of Accessy – the keyless office

The Accessy digital platform, which is a part of Castellum’s Life@Work app, was launched with 250 live test pilots. A key on your mobile phone eliminates the need for a keyring in your pocket and a plastic card dangling around your neck.

Castellum submitted offer for Entra

Castellum published the voluntary exchange and cash offering for the acquisition of shares in the Norwegian company Entra. Later, Castellum announced that the offer was being withdrawn since sufficient acceptance had not been achieved.

Logistics acquisitions in Öresund

Castellum acquired a series of logistics properties in Malmö and Helsingborg, which established Castellum as a proactive and leading player in Swedish logistics.

Sale of properties to Blackstone

Castellum sold 53 properties in logistics for SEK 4.8 billion to the capital management company Blackstone.

Initiation of energy partnerships with electricity companies

To relieve the strain on the country’s power grid, Castellum initiated partnerships with five energy companies: Göteborg Energi, Öresundskraft, Växjö Energi, Jönköping Energi and Tekniska verken in Linköping.


First with WELL certification of entire asset portfolios

In 2016, Castellum was the first in the Nordic region with WELL certification. Castellum took a pioneering step in 2021 by joining the WELL Portfolio, a new programme for certifying entire property portfolios.

Research partnership with KTH Royal Institute of Technology

Castellum initiated a partnership with KTH Royal Institute of Technology, the purpose of which is to study how the lessons from the pandemic regarding flexible work can be transformed into best practice. RISE IVF, the University of Gothenburg and Scania are also taking part.

Development of new logistics hub in Gothenburg

Castellum signed a declaration of intent with the Port of Gothenburg regarding the development of the Halvorsäng district into one of the Nordic region’s leading logistics hubs. A partner company in which Castellum and the port own equal shares.

Changes to Executive Management

Henrik Saxborn informed the Board of Directors of Castellum that he had decided to step down as President and CEO in 2021. Ulrika Danielsson announced that she planned to leave her role as CFO of Castellum.

Launch of the turnkey office concept

Castellum introduced a new concept for customers looking to blend sustainability and health with maximum flexibility and service – a turnkey office to enjoy.

Report on work life of the future presented

The study of the work life of the future was presented after a year of changed conditions. Comfort is making a comeback, and more people want a flexible working life after the pandemic as well.

Read more about Working life of the future


Finnish property acquisitions

Castellum acquired a Finnish asset portfolio through the acquisition of Kielo, with 22 high-quality office properties in Finland’s most attractive growth centres and most rapidly-growing university towns. 

Acquisition of further shares in Entra

Castellum acquired further shares in the Norwegian company Entra and increased its exposure to the Norwegian commercial property market. With this acquisition, Entra became an associated company of Castellum.

Castellum submits offer for Kungsleden

Castellum submitted a recommended public offer to the shareholders of Kungsleden to acquire all the shares in the company with the intent to combine the two companies.

Hybrid bonds issue

Castellum issued hybrid bonds with a maturity to the first potential redemption of 5.5 years and a fixed coupon rate of 3.125%. The issue proceeds were used
for purposes such as acquisitions and project development.

Named the world’s most sustainable office developer

For the sixth consecutive year, the Global Real Estate Sustainability Benchmark showed that Castellum is a world leader in sustainability in the Office/Industry category with 95 out of a possible 100 points.


The Nordic region’s foremost property company in global sustainability evaluation

Continued success for Castellum’s sustainability initiatives when the company received the highest marks of any property company in the Nordic region in the annual Carbon Disclosure Project (CDP) sustainability survey.

Sales of properties in Helsingborg

During the quarter, Castellum sold properties in Helsingborg. The sale price totalled SEK 2.4 billion less overheads and deferred tax totalling approximately MSEK 120.

Castellum’s contribution to managing the energy crisis

Swedish buildings will be converted into active energy resources that relieve the strain on the national power grid. This is the vision behind a partnership project that Castellum has entered into with five energy companies.

Castellum completes offering to shareholders in Kungsleden

More than 90% of the shareholders in Kungsleden accepted the offer. The new Castellum gained a property value of approximately SEK 176 billion, including the participations in the associated company Entra, and strengthens its position as the leading listed commercial property player in the Nordic region. 

Changes to Executive Management

On 8 December, Biljana Pehrsson took office as the new CEO of Castellum, and Ylva Sarby Westman took office as Deputy CEO and CFO.

Events after the end of the period

On 10 January 2022, Castellum’s Board of Directors appointed then-Chairman of the Board Rutger Arnhult as the new CEO. Maria Strandberg took office as CFO on 1 March, replacing Ylva Sarby Westman in the position.

Castellum sold 12 properties in Gävle to Fastighets AB Regio. The sale price was approximately SEK 2.3 billion less overheads and deferred tax totalling approximately MSEK 130.

Russia’s invasion of Ukraine has caused turbulence in many economies around the world. At present, it is too early to judge the long-term implications of the conflict.