Austrian construction group STRABAG has acquired Olivia Star, the tallest and largest office building in Poland’s regional cities, in a deal valued at around €150 million. The acquisition underlines continued international confidence in Poland’s office market and highlights the long-term appeal of premium, high-performing assets.
STRABAG has completed the acquisition of Olivia Star, an 180-metre office tower in Gdańsk, with KINGSTONE Real Estate (KINGSTONE RE) acting as transaction adviser and coordinating the due diligence and acquisition process.
The 34-storey building provides around 40,000 square metres of Grade A office space and is almost fully occupied, with a 98% occupancy rate. Tenants include Nordea Bank and PwC, while the building also features conference facilities, restaurants, bars and a public observation deck.
Confidence in the Polish office market
According to the official announcement, the transaction was completed as a share deal, with a purchase price of approximately €150 million. Following completion, KINGSTONE RE will remain responsible for the asset’s long-term management, supporting STRABAG’s investment strategy and sustainable value creation.
Long-term asset management focus
Located within the Olivia Centre business campus in Gdańsk’s Oliwa district, Olivia Star is the flagship tower of Poland’s largest business hub. While the tower changes ownership, the remaining buildings within the complex will continue to be owned by the seller, Tonsa Commercial.
KINGSTONE RE says it will act as STRABAG’s exclusive local operating partner, overseeing institutional asset management and supporting the property’s future growth.