Austrian construction and real estate group STRABAG has acquired Olivia Star, the landmark office tower in Gdańsk, in a transaction valued at approximately €150 million, marking one of the most significant office investment deals in Poland’s regional markets.
Standing at 180 metres, Olivia Star is the tallest office building in the Tricity metropolitan area and the largest office asset among Poland’s regional cities. The tower comprises 34 floors and provides approximately 40,000 square metres of premium office space.
The property is currently 98% leased, with key tenants including Nordea Bank, PwC and Olivia Star Top, the hospitality and observation deck concept located within the building.
Developed by international real estate investor Tonsa Commercial, Olivia Star was sold through a share deal structure. The acquisition covers the tower itself, while the remaining six buildings within the wider Olivia Centre complex remain under the ownership of the seller.
Located at 472C Grunwaldzka Street in Gdańsk’s Oliwa district, Olivia Star is the flagship building of Olivia Centre, Poland’s largest business hub and one of the largest office complexes in Central and Eastern Europe.
KINGSTONE Real Estate advised STRABAG on the acquisition, acting as transaction advisor and coordinating the full due diligence and transaction process. Following completion of the deal, KINGSTONE RE will assume long-term asset management responsibilities for the property and support the implementation of the investor’s strategy.
