STRABAG Group has acquired Olivia Star in Gdansk for approximately €150m, a transaction that ranks among the largest commercial real estate deals in Poland this year. The Austrian construction and investment group purchased the 180-metre tower through advisory firm KINGSTONE Real Estate, securing one of the most prominent office assets in the Tricity metropolitan area.
Tallest tower in regional Poland
Rising 34 floors high, Olivia Star is the largest office building not only in the Tricity area but across all Polish regional cities. The structure contains roughly 40,000 square meters of premium office space, which sits at 98% occupancy. Tenants include Nordea Bank, PwC, and the Olivia Star Top observation deck concept, providing a stable income stream for the new owners.
The complex surrounding the tower remains under the ownership of Tonsa Commercial. Seven buildings make up the Olivia Centre, the largest business hub in Poland and one of the largest in Central and Eastern Europe, yet the deal focused solely on the tallest tower. This selective acquisition leaves the remaining assets available, creating a potential pipeline for future institutional investment in the wider complex.
International capital is showing growing interest in the Polish office sector. Pawel Sobolewski, Managing Director Poland and Head of Fund Management at KINGSTONE RE, noted that structural pricing trends still favor Poland over Western European markets. He cited Poland’s strong economic performance, which leads European countries in GDP forecast rankings, as a reason to expect further upward momentum in real estate pricing.
Long-term asset management
Following the purchase, KINGSTONE RE will serve as the exclusive operating partner for STRABAG. The firm will handle the onboarding process and establish institutional asset management structures for the building. Philipp Schomberg, Co-Founder and CEO Poland at KINGSTONE RE, described the deal as a major milestone for the firm’s growth strategy in Poland.
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While the acquisition highlights a trophy asset, the structure of the deal suggests a cautious approach to the broader complex. By purchasing only the tallest tower while leaving the surrounding portfolio with the original developer, both parties have preserved flexibility. The remaining assets could become targets for future investment if market conditions continue to favor the region.
The property offers more than just traditional office space, as the building also features extensive conference facilities, five restaurants, and three bars. These amenities, combined with the publicly accessible observation deck under the Olivia Star Top concept, enhance the building’s appeal and contribute to its high occupancy levels. The tenant base, anchored by Nordea Bank and PwC, further shows the institutional-grade quality of the asset.
KINGSTONE RE exclusively sourced the asset for STRABAG and led the purchaser’s side through due diligence, negotiation, and transaction coordination. Philipp Schomberg confirmed the firm’s next steps: “KINGSTONE RE will continue to manage the onboarding process and establish institutional asset management structures. We will represent the investor locally as an exclusive operating partner and assume the role of asset manager for Olivia Star.”
Legal and technical advisors played a key role in the transaction, with Greenberg Traurig and Pinsent Masons serving as legal counsel to the seller, while Act Legal provided legal and tax advice to the purchaser. Technical and financial due diligence was conducted by Savills and Baker Tilly, respectively, ensuring a thorough evaluation of the asset before the acquisition was finalized.
