Trianon

What Trianon does

Trianon (legal name Fastighets AB Trianon, publ) is a Malmö-headquartered Swedish property company founded in 1973 and listed on Nasdaq Stockholm under ticker TRIAN B (IPO on Nasdaq First North Premier in June 2017, moved to the main market in December 2020). The company owns and manages approximately 139 properties comprising around 467,000 square meters of lettable area, with a portfolio valuation of SEK 12.3-13.0 billion. The portfolio is approximately 76-77% residential apartments and 23-24% commercial spaces, concentrated in Malmö and surrounding municipalities (Svedala, Burlöv, Landskrona, Lund, Skurup) with a limited presence in Stockholm. Anchor commercial tenants include Malmö stad (municipal government), Fitness24Seven, Willys, ICA, Coop, and Kirurgicentrum Skåne.

The business model is rental-income driven: FY2025 rental income reached SEK 787.3 million (up 2% YoY) and property management result was SEK 217.2 million (up 22% YoY), with vacancy held at 2.7-2.8%. Tenants are sourced through a direct website portal (Mina Sidor), the Boplats Syd municipal housing allocation platform, and a direct commercial leasing team. Trianon supplements rental revenue with property development through joint ventures (Wallfast for Burlöv Center, CoForma Property for central Malmö, Lernacken Fastigheter for Limhamn) and refinances growth via sustainable bonds issued under a framework aligned with ICMA Green and Social Bond Principles. Distribution is direct-to-consumer for residential and direct B2B for commercial, with no technology platform or proprietary software of note.

Operationally, the company is small (11-50 employees) and in the midst of a leadership transition announced January 2026: Petra Krüger, formerly Sverigechef at NCC Property Development with prior Skanska residential-development experience, will replace 20-year CEO Olof Andersson in August 2026, while Andersson becomes Chairman. The strategic emphasis is on social sustainability — including a 2026 pilot project with Skåne Stadsmissionen to reserve apartments for families with weak household economics — alongside active urban development in underserved Malmö neighborhoods.

Name

Trianon

Legal name

Fastighets AB Trianon

Website

https://trianon.se

Company type

Public

Founded year

1973

Operating status

Operating

Headcount range

11–50 employees

Short description

Trianon is a Malmö-headquartered, Nasdaq Stockholm-listed Swedish real estate company that owns approximately 139 residential and commercial properties (~467,000 sqm, SEK 12.3-13.0 billion) in southern Sweden, serving individual tenants and commercial anchor clients including municipalities and retail chains.

Ownership category

akta.pro rank

Headquarters

HQ city

Malmö

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Residential Rental Income: Approximately 76-77% of rental income comes from residential apartments across 123-139 properties. Tenants sign rental agreements through the company's direct channels and pay monthly rent.
2. Commercial Rental Income: Approximately 23-24% of rental income comes from commercial spaces including retail, offices, and community facilities. This includes long-term leases with tenants such as Malmö stad, Fitness24Seven, Willys, ICA, and various other businesses.
3. Property Sales: Trianon generates occasional revenue from property sales, typically at book value or higher. The company sold properties to Briban Invest AB as part of a billion-kronor transaction in 2025, and participates in joint ventures where building rights are sold to development partners.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Trianon (Fastighets AB Trianon) owns and manages a portfolio of 123-139 residential and commercial properties in the Malmö region and surrounding municipalities in southern Sweden, with approximately 444,000-467,000 sqm of lettable area. The company rents residential apartments (76-77% of rental income), commercial spaces (23-24%), parking and storage units directly to tenants, and pursues urban property development through joint ventures.

Product overview

Trianon is an entrepreneurial-driven, publicly listed real estate company headquartered in Malmö, founded in 1973. The company operates a platform-plus-core-services model comprising rental apartments (approximately 76-77% of portfolio), commercial spaces (23-24%), parking, and storage facilities. The portfolio spans 139 properties with approximately 467,000 sqm of lettable area valued at approximately SEK 13.0 billion as of March 2026. Trianon provides tenant services through its Mina Sidor digital portal and pursues urban development through joint ventures and proprietary development projects. The company also issues sustainable bonds under its sustainability financing framework. The product ecosystem centers on property ownership, management, and development in the Malmö region with surrounding municipalities.

Differentiator

Problem solved

Functional benefit

Products and services

• Bostäder (Rental Apartments)
• Lokaler (Commercial Spaces)
• Parkering (Parking)
• Förråd (Storage)

Quantifiable outcome

• Achieved double-digit growth in management result for 8 of the last 9 quarters, with 22% increase to 217 Mkr in 2025
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Skåne StadsmissionencoreStrategic or Co-development Partner · 28 April 2026Trianon collaborates with Skåne Stadsmissionen, Stena Fastigheter, and Fastighetsägarna Syd on a pilot project to facilitate housing for families with weak household economics. The project uses the new 2025 legislation allowing reservations for specific groups within municipal housing allocation, targeting larger apartments in the lower rent range for families with children.
• CoForma PropertycoreStrategic or Co-development Partner · 7 November 2025Joint venture with CoForma Property (subsidiary of Greencarrier) for property development in the Malmö region. First joint project is development of multi-family housing in central Malmö. Trianon sold building rights for 64 Mkr to the joint venture, and the partnership allows Trianon to participate in future project profits while leveraging CoForma's BRF expertise.
• Burlöv Center Fastighets ABcoreStrategic or Co-development PartnerTrianon's largest joint venture, a separate company developing Burlöv Center properties. The joint venture successfully completed a 200 Mkr bond issuance to finance new construction and repay shareholder loans, providing positive liquidity effect for Trianon.
• Stena FastigheterminorStrategic or Co-development PartnerPartner in the pilot project for housing reservations for families with weak household economics, alongside Skåne Stadsmissionen and Fastighetsägarna Syd.
• Fastighetsägarna SydminorStrategic or Co-development PartnerPartner in the pilot project for housing reservations for families with weak household economics, alongside Skåne Stadsmissionen and Stena Fastigheter.
• MKB Fastighets ABminorStrategic or Co-development PartnerUnique collaboration between two major Malmö property companies to invest 42 million SEK in a joint public benefit foundation focused on increased safety and social sustainability in areas where both companies operate in Malmö.
• Lernacken Fastigheter ABminorStrategic or Co-development PartnerJoint venture partner for development of silos property on Limhamn, selling 50% in a residential cooperative project with agreed property value of 75 Mkr. Equal ownership between parties.
• WallfastcoreStrategic or Co-development PartnerJoint venture partner for acquisition of Burlöv Tågarp 15:4 property comprising Burlöv Center commercial property of 43,000 kvm and associated 48,000 kvm planned residential building rights with potential for additional 100,000 kvm BTA housing. Agreed property value of 500 Mkr.
• Fitness24SevenminorChannel Partner/ Reseller/ DistributorInternational gym chain operating in Trianon properties since 2003, founded in Malmö. Expanded to new 604 kvm premises in Limhamn with 10-year lease commencing March 2027. Also operates in Trianon's Lindängen properties.
• Yalla TrappanminorStrategic or Co-development PartnerSocial enterprise collaboration for café and restaurant operation in Lindängen property, creating employment opportunities for women, strengthening women's independence and health, and contributing to increased safety and service in the area.
• MalbasminorStrategic or Co-development PartnerBasketball club collaboration enabling basketball training for young people in Hermodsdal, supporting active lifestyle and new networks for youth in the area.

Scale indicators8 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Victoria Park: Swedish residential property company that co-acquired 722 apartments in Lindängen with Trianon in 2018. Direct comparable on Swedish residential rental apartments in growth regions.
• K2A Knaust & Andersson Fastigheter: Swedish listed residential property company with focus on rental apartments and housing for students/young adults. Comparable business model and Swedish growth-market exposure.
• Stenhus Fastigheter: Swedish listed property company with diversified residential and commercial portfolio across Swedish growth regions. Comparable Nordic mid-cap real estate company with similar rental income business model.
• MKB Fastighets AB: Malmö's municipal housing company and Trianon's co-investor in the SEK 42M public benefit foundation. Direct peer operating residential and commercial rental properties in the same Malmö market.
• Willhem: Major Swedish residential property company and prior transaction counterparty with Trianon (sold 722 + 781 apartments to Trianon in 2018-2019). Directly comparable multifamily rental business focused on Swedish growth markets.
• Stena Fastigheter: Swedish residential real estate company participating alongside Trianon in the social housing pilot with Skåne Stadsmissionen. Comparable multifamily rental model in Swedish growth markets.

Emerging players

• NCC (Property Development): Incoming CEO Petra Krüger's prior employer (Sverigechef at NCC Property Development). While primarily a construction-led developer, NCC's residential development arm competes for the same urban Malmö development opportunities as Trianon's JV pipeline.

Broad incumbents

• Heimstaden Bostad: Residential-focused subsidiary/affiliate within the Heimstaden group with direct exposure to Swedish multifamily rental. Closest large-scale listed comparable for Trianon's 76-77% residential portfolio.
• Vectura Fastigheter: Swedish property company where incoming Trianon board member Malin Seippel serves as Head of Group Treasury. Broader portfolio across Swedish commercial and community-service properties, providing a peer reference for Trianon's commercial book.
• Heimstaden: One of Europe's largest residential property companies with significant Swedish portfolio including Malmö exposure. Direct comparable on residential rental apartment model, but operates at vastly larger scale across multiple countries.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/Trianonfastigheter
• LinkedInlinkedin.com/company/fastighets-ab-trianon
• Instagraminstagram.com/trianonfastigheter

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

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 Trianon