Humlegården

What Humlegården does

Humlegården Fastigheter AB is a Swedish private real estate company that owns, develops, and manages a portfolio of 61 office properties totaling approximately 560,000 sqm across the Stockholm region, with a property value of 42.5 billion SEK as of 31 December 2025. The company is owned by Länsf örsäkringsgruppen, Sweden's only customer-owned and locally rooted banking and insurance group, which provides long-term, stable capital; the company carries a BBB+ rating from S&P Global Ratings and operates with a 34% loan-to-value ratio. Humlegården targets enterprise tenants and government agencies through direct sales via named in-house leasing agents, offering multi-year leases on full-service concepts (Origo, Duoliten, Greenhouse, Bilpalatset) with amenities such as reception, gym, meeting rooms, restaurants, rooftop terraces, and tenant apps for service booking.

The company's revenue model is anchored in long-term, recurring office rental income supplemented by service charges for full-service amenities. Q1 2026 rental income was 506 mkr SEK (up 2% YoY), generating an operating surplus of 355 mkr at a 73% surplus ratio, with 89.4% occupancy excluding development properties. Pricing is quoted per square meter per year on a multi-year contract basis and is not publicly disclosed. The customer base spans government (Socialstyrelsen, ~17,600 sqm at Greenhouse, Solna strand, 6-year lease), financial services (Nordnet, ~7,700 sqm at Kungsholmen), healthcare AI (Tandem Health, ~2,250 sqm at Kungsgatan), and coworking operators (United Spaces, ~2,800 sqm at Grow, Elektrogatan). Core technology is conventional property management with digital tools for tenants (booking, community manager) and sustainability monitoring (BREEAM In-Use, Green Building, Miljöbyggnad Gold certifications). Sustainability is positioned as a strategic differentiator, with climate neutrality targeted by 2045, SBTi-aligned targets, UN Global Compact reporting, and green/sustainability-linked financing. Growth is driven by a mix of selective acquisitions (e.g., Banvakten 1/Mielehuset in 2023), joint development (Einar Mattsson collaboration on Ribosomen block in Hagastaden, 2026), capital recycling (divestiture of residential building rights in Södra Hagalund to Besqab/ALFA Development, 2026), and active leasing of prime Stockholm locations.

Name

Humlegården

Legal name

Humlegården Fastigheter AB

Website

https://humlegarden.se

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Humlegården Fastigheter AB is a Stockholm-focused private real estate company owning 61 office properties (~560,000 sqm, 42.5 billion SEK portfolio) that leases full-service workspace to enterprise tenants and government agencies, owned by Länsf örsäkringsgruppen.

Ownership category

akta.pro rank

Product category

Commercial Office Real Estate

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Real Estate Property Managers (53131)

SIC

Operators Of Nonresidential Buildings (6512), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Office Property Management (BPAJAGAA)

akta.pro secondary industry

Mixed-Use Property Management (BPAJAGAE)

Keywords

• Commercial real estate
• Office rental
• Property management
• Workspace solutions
• Sustainable buildings

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Office Space Rental: Primary revenue stream from leasing office, retail, and warehouse/storage spaces across 61 properties in the Stockholm region. Rental income is generated through long-term leases (e.g., 6-year contract with Socialstyrelsen) and shorter-term arrangements. Properties offer various unit sizes from ~200 kvm to multi-thousand kvm spaces.
2. Service Charges and Additional Services: Revenue from service charges included in rent for full-service concepts (e.g., Origo, Duoliten, Greenhouse) including access to reception, gym, meeting rooms, terrace, bike parking, etc. Additional services such as catering, room service, and parking are charged separately.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Humlegården Fastigheter owns, manages, and develops a portfolio of 61 office properties (~560,000 sqm) across prime Stockholm submarkets, leasing flexible office space and full-service workspaces (including branded concepts Origo, Duoliten, Greenhouse, and Bilpalatset) to enterprise tenants and government agencies on multi-year contracts. The offering combines physical space with in-house property management, customer service, and sustainability-certified, amenity-rich environments (gyms, conference facilities, restaurants, terraces, EV charging, boat commuting).

Product overview

Humlegården Fastigheter is a real estate company owning, managing, and developing office properties in the Stockholm region. The company operates a portfolio of 61 properties totaling approximately 560,000 sqm with a property value of 42.1 billion SEK (as of 2025). Their portfolio includes branded office concepts (Greenhouse, Duoliten, Bilpalatset, Origo) and individual properties across Stockholm metropolitan area (City, Gärdet, Hagalund, Hagastaden, Solna, Solna Strand). Core offerings are flexible office spaces with full-service concepts, including amenities like gyms, restaurants, rooftop terraces, and boat commuting. The company also operates a podcast series 'Miljöer att växa i' covering workplace and urban development topics.

Differentiator

Problem solved

Functional benefit

Brands

• Origo: Office property in Solna/Sundbyberg with hotel-inspired concept, featuring bistro, rooftop terrace, gym, and comprehensive services.
• Duoliten
• Bilpalatset
• Greenhouse

Products and services

• Greenhouse Flexible, modern office property in Solna strand offering approximately 6,000 sqm in Greenhouse Corner with own entrance, green roof terraces, courtyard, and secured parking. Features BREEAM In-Use Very Good certification, solar panels covering ~30% of electricity consumption, sedum roof, rainwater-fed irrigation, and amenities including gym, yoga studio, sauna, cinema room, and boat commuting to Stockholm city. Built for enterprise and government tenants seeking a sustainable, amenity-rich workplace.
• Duoliten Office property at Tegeluddsvägen 21 on Gärdet offering 500-9,000 sqm of flexible office space. Full-service concept including reception, gym, yoga studio, conference rooms, rooftop terrace, and restaurant/café. BREEAM In-Use Very Good certified. Located five minutes from Stockholm city centre. For enterprise tenants needing a sustainable, amenity-rich headquarters in central Stockholm.
• Bilpalatset Office property in Hagastaden at Norra Stationsgatan 61 offering flexible office spaces from 230-3,200 sqm. Historic 1926 building being renovated with industrial character, modern amenities, gym, restaurants (ART, Din-Din Club, Café 117), and parking with EV charging. Located in Stockholm's premier innovation district. For innovative and knowledge-intensive tenants seeking a characterful workplace.
• Origo Hotel-inspired office destination at Röntgenvägen 3 in Solna/Sundbyberg offering flexible spaces from 300-2,200 sqm. Includes Bistro Victor restaurant, 400 sqm rooftop terrace, Origo Top Bar at 52m height, cinema, gym, playground, creative rooms, and suites. Miljöbyggnad Gold certified. Twelve minutes to T-Centralen. For tenants wanting a hospitality-led workplace experience.
• Fastighet Ugnen 4 Property at Industrivägen 3-5 in Hagalund with approximately 8,100 sqm total rental area (6,600 sqm offices). Green Building certified since 2009. Built 1971-72 and renovated 2006. For office tenants in the Hagalund/Solna area.
• Fastighet Päronet 6 Property at Solna Strandväg 1-7 and Torggatan 13-15 with approximately 19,939 sqm, 80% offices. BREEAM In-Use certified (Building Very Good, Property Management Good). Historic buildings from 1951 and 1960. For office tenants in the Solna strand area.
• Fastighet Mjölner 4 Property at Banvaktsvägen 12, Industrivägen 11 with approximately 3,658 sqm total area. Postmodernist architecture built 1989-91. Acquired by Humlegården in 2010. For office tenants in the Hagalund area.
• Fastighet Banvakten 1 (Mielehuset) Property at Industrivägen 18-20 in Hagalund, locally known as 'Mielehuset'. Approximately 4,915 sqm. Built 1959, renovated 2000 and 2006-07. Acquired from Miele in August 2023. For office tenants in the Hagalund area.
• Fastighet Härden 16 (Bilpalatset) Historic Bilpalatset property at Sankt Eriksgatan 117 and Norra Stationsgatan 61. Approximately 25,718 sqm. Originally built 1930, renovated 1986-88 and 2006. Listed as industrial heritage. For office tenants in the Hagastaden area.
• Fastighet Bremen 4 (Duoliten) Property at Tegeluddsvägen 15-23 (Duoliten building). Approximately 23,400 sqm total area (19,000 sqm offices). Built 1979, renovated 2002-03. Acquired September 2019. For office tenants in the Gärdet area.

Quantifiable outcome

• Rental income of 506 mkr in Q1 2026, up 2% YoY (from 495 mkr to 506 mkr)
• +4 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered major and minor.

• Einar MattssonmajorStrategic or Co-development Partner · 1 January 2026Humlegården entered a collaboration agreement with Einar Mattsson to jointly develop the Ribosomen block in Hagastaden. Humlegården focuses on the office portion while Einar Mattsson focuses on residential. The land allocation covers approximately 7,500 sqm offices, 900 sqm commercial space, and 6,500 sqm residential.
• Besqab AB and ALFA DevelopmentminorOthers · 1 January 2026Humlegården sold residential building rights covering approximately 34,000 sqm in Södra Hagalund, Solna, to a jointly owned company of Besqab AB and ALFA Development. The transaction is conditional on Solna municipality signing an amendment to the development agreement.
• FIHL – Fastighetsbranschens initiativ för hållbara leverantörsledminorStrategic or Co-development PartnerHumlegården is a member and co-founder of FIHL, an industry initiative for sustainable supply chains in the real estate sector. Together with other industry actors, the company drives development towards more responsible supplier chains.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Fabege: Fabege is one of Sweden's largest office-focused property companies, with a portfolio concentrated in the Stockholm region (Solna, Sundbyberg, Hammarby Sjöstad, City). Directly comparable to Humlegården in asset class (offices), geography (Stockholm), and tenant profile (enterprise and government).
• Vasakronan: Vasakronan is Sweden's largest property company and a leading office landlord with major holdings in Stockholm, Gothenburg, Malmö, and Uppsala. Closely comparable to Humlegården in office focus, sustainability leadership, and institutional ownership (AP funds).
• Hufvudstaden: Hufvudstaden owns and manages premium office and retail properties in Stockholm's most central business districts. Comparable to Humlegården for prime Stockholm office exposure, high-end full-service concepts, and long-term ownership orientation.
• Kungsleden: Kungsleden is a Swedish commercial property company with a portfolio of office, industrial, and retail assets across Sweden, including meaningful Stockholm exposure. Comparable to Humlegården as a Stockholm-anchored office landlord with diversified Swedish holdings.
• Castellum: Castellum is one of the largest listed commercial real estate companies in the Nordics, with offices, logistics, and mixed-use properties across Sweden and Denmark. Comparable in scale, office leasing model, and sustainability focus.
• Wallenstam: Wallenstam is a Swedish property company focused on residential and commercial (office/retail) properties in the Stockholm and Gothenburg regions. Comparable in Stockholm office exposure, sustainability focus, and long-term ownership stance.

Broad incumbents

• Balder: Balder is a large Swedish real estate company with a diversified portfolio of residential, office, and commercial properties across Sweden, Norway, Denmark, Finland, and the UK. Comparable to Humlegården in office focus and Swedish market presence, but materially larger and broader.

Regional players

• Stena Fastigheter: Stena Fastigheter is a major Swedish property company developing and managing residential and commercial properties, primarily in the Gothenburg and Stockholm regions. Comparable in mixed-use development and Stockholm presence, but with a residential tilt.

Others

• Catena: Catena is a Swedish listed real estate company focused on logistics, warehouse, and last-mile properties in the Nordics. Thematically related as a Swedish property peer and competitor for capital, but operates in a different asset class (logistics vs. office).
• Storskogen: Storskogen is a Swedish investment company that owns and develops a diversified portfolio of businesses across the Nordics, including property-adjacent holdings. Related as a Swedish long-term holder backed by stable capital, but not a direct real estate operating peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/HumlegardenFastighet
• Facebookfacebook.com/HumlegardenFastigheter
• LinkedInlinkedin.com/company/humleg-rden-fastigheter-ab
• Instagraminstagram.com/humlegardenfast
• Xx.com/humlegardenfast

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Humlegården