In English

Welcome to Vasakronan


Vasakronan is the leading property company in Sweden. Our strategy is to focus on Sweden’s major growth regions: Stockholm, Uppsala, Gothenburg and Malmö.

173 properties with a total area of 2,300,000 m2

We own and manage 173 properties with a total area of approx. 2,300,000 m2 (as of September  31, 2019). Many of the properties are situated in clusters and offer supplementary services to the tenants. The portfolio is valued at SEK 147 billion.

Environment and climate work are highly prioritized. Vasakronan is a carbon neutral company and is ISO 14001 certified. We were also Sweden’s first property company to offer green leases and green offices. For further information, see Sustainability.

The organization has operations in four regions – Stockholm, Uppsala, Gothenburg and Malmö. The number of employees is approximately 310.

Vasakronan is jointly owned by the First, Second, Third and Fourth Swedish National Pension Funds.

Office leasing

Vasakronan offers office premises in Stockholm, Uppsala, Gothenburg and Malmö. To contact our lease managers, please use contact details below.

STOCKHOLM: Leasing Manager – Jesper Swedenborg and Workplace Strategies and Tenant Advisory – Henrik Eriksson
UPPSALA: Business Area Manager Retail and Leasing – Karin Berg
GÖTEBORG: Leasing Manager – Daniel Jighede
MALMÖ: Leasing Manager – Anneli Dahl

Retail leasing

Vasakronan is the leading property company in Sweden regarding city retail premises. If you are looking for a central location in any of Sweden’s major cities, please contact our retail leasing managers.

STOCKHOLM: Business Area Manager Retail – Martin Sandgärde
UPPSALA: Business Area Manager Retail and Leasing – Karin Berg
GÖTEBORG: Leasing Manager – Daniel Jighede
MALMÖ: Business Area Manager Retail – Eric Sjöstedt

Attractive City Shopping


In order to realize our vision of future-proof cities, we need to have sustainable societies. Sustainability is therefore a natural, integral part of Vasakronan’s organization and business. This applies to the board, management and our everyday activities.

In order to achieve our vision of future-proof cities, with buildings where both individuals and companies can thrive, we must contribute to a sustainable development of society – financially, environmentally and socially. Together with our employees, tenants and other stakeholders, we strive to ensure that our cities will be good societies over time.

Our mandate from the company’s owners is to generate a high, risk-balanced, long-term return from property investments in Sweden. At the same time, we must run our business both ethically and with consideration for the environment. This is why our sustainability efforts are strategically critical to meeting the target return.

Sustainability work consists of financial and environmental efforts, along with social responsibility. All of these efforts are based on the ten principals outlined in the UN Global Compact, internal policies/guidelines and Vasakronan’s Code of Conduct. The work is goal-oriented and long-term. It also requires commitment from all employees in the organization as well as our suppliers.

Code of conduct for suppliers

We discourage all forms of corruption and all of Vasakronan’s employees and suppliers are expected to comply with existing laws. Our Compliance Officer is responsible for ensuring that there is correct behavior throughout the company and its business. Vasakronan’s General Counsel Sheila Florell has been assigned this role. She is the person that any employee or outsider may turn to if they suspect that rules or policies are not being followed.

Listed below are some of Vasakronan’s internal policies.

Vasakronan was proud to be the first company in the world to issue green bonds in November 2013, see Vasakronan Green Bond FrameworkCicero Second Opinion and Bondholders report.

Click here for Vasakronan annual report 2018.
Click here for a summary of Vasakronan’s sustainability data 2016 in accordance with Global Reporting Initiative (GRI).
Click here for Global Compact Communication on Progress 2017.

If you would like to learn more about Vasakronan’s sustainability work, you are welcome to contact our Head of CSR, Anna Denell.

Board & Management


Johanna Skogestig (1974), President Vasakronan

Civil engineer.
Previous experience: AP Fastigheter, Sveafastigheter, Areim
Other assignments: CIBUS


Ronald Bäckrud

Ronald Bäckrud (1958), Senior Vice President, Stockholm Region
Civil engineer. Employed 1995.
Previous experience: J&W, Vattenbyggnadsbyrån, Skandia and Arne Johnson Förvaltning.
Other assignments: Board member of Byggherrarna.

Sheila Florell

Sheila Florell (1965), Senior Vice President, General Counsel
Law degree. Employed 2005.
Previous experience: If Skadeförsäkring and the Association of Swedish Real Estate Agents.
Other assignments: Board member of SSM Holding.

Jan-Erik Hellman (1975), Senior Vice President, Uppsala Region
Civil engineer. Employed 2010.
Previous experience: JLL, ICA Fastigheter
Other assignments: Board member Citysamverkan AB.

Christer Nerlich

Christer Nerlich (1961), Senior Vice President, CFO
Graduate in Economics. Employed 1995.
Previous experience: Newsec and FastighetsRenting.
Other assignments: Board member of Akademiska Hus.

Anna Nyberg

Anna Nyberg (1973), Senior Vice President, Property development, Stockholm
Civil engineer. Employed 2007.
Previous experience: Hufvudstaden, Ericsson, Dalkia and Stadshypotek

Kristina Pettersson Post

Kristina Pettersson Post (1964), Senior Vice President, Gothenburg Region
Civil engineer. Employed 1993.
Previous experience: Byggnadsstyrelsen.
Other assignments: Board member of Nordstans Samfällighet, Trophi Fastighets AB, CMB Chalmers and Göteborg citysamverkan ideell förening.

Anders Ahlberg  (1957), Acting Chief Investment Officer (CIO)
Civil engineer, Employed 2000
Previous experience: AP Fastigheter, Länsstyrelsen i Stockholm, Hyresbostäder Eskilstuna, Byggnadsstyrelsen, Hifab, Jaeger & J:son, Catella, AP Fastigheter


Anna Stenkil (1968), Senior Vice President, Malmö
Graduate studies in Economics. Employed 2011.
Previous experience: Proffice, Newsec, Wihlborgs.
Other assignments: Board member of Fastighetsägarna and Ideon Open.

Cecilia Söderström

Cecilia Söderström (1962), Senior Vice President, Human Resources
Graduate studies in personnel and labor market. Employed 2008.
Previous experience: Svenska Spel and Ericsson.
Other assignments: Board member of Almega Fastighetsarbetsgivarna.

Per Thiberg (1959), Senior Vice President, Business development
Civil engineer. Employed 2002.
Previous experience: JM and Newsec.

Nicklas Walldan

Nicklas Walldan (1971), Senior Vice President, Technology, Services and Development
Civil engineer. Employed 2001.
Previous experience: Tyréns.
Other assignments: Board member of Svensk Byggtjänst and Samhällsbyggnadslänken vid KTH.

Peter Östman

Peter Östman (1961), Senior Vice President, Corporate Communications
Graduate in economics. Employed 1998.
Previous experience: Storstaden.


Ulrika Francke

Ulrika Francke (1956), Chairman
Elected in 2018. Chairman in 2018.
Other board positions: Knightec, Swedbank, Hexagon, SIS Swedish Standards Institute and IVA.
Previous experience: Various management positions at Tyréns AB, Sveriges Bostadsrättscentrum AB, Stockholms stad, Fastighets AB Brommastaden.

Magnus Meyer (1967), MD WSP Sweden and WSP Europe
M.Sc. in civil engineering. Elected in 2019.
Other board positions: Kinnarps and Slättö Förvaltning.
Previous experience: technical attaché in Los Angeles, various management positions at the Ljungberg group and GE Real Estate. CEO of the Tengbom group.

Niklas Ekvall

Niklas Ekvall (1963), CEO Fourth National Pension Fund
Ph.D. Financial Economics and M.Sc Industrial Engineering. Elected in 2016.
Other board positions: Hans Dahlborgs Stiftelse för Bank- och Finansforskning and placeringskommittén KVA.
Previous experience: CEO Nordea Investment Management, Vice President Third National Pension Fund, various management positions at Nordea, Carnegie and Handelsbanken.

Ann-Sofi Danielsson

Ann-Sofi Danielsson (1959), CFO and Head of IR på Bonava
M.Sc. Economics. Elected in 2017.
Other board positions: Pandox.
Previous experience: CFO of NCC. Board member of RNB Retail and Brands.

Kerstin Hessius

Kerstin Hessius (1958), CEO Third National Pension Fund
Graduate in Economics. Elected in 2004.
Other board positions: Hemsö, Trenum, Handelsbanken, SVEDAB and Öresundsbro Konsortiet.
Previous experience: CEO Stockholm Stock Exchange, Deputy Governor of Swedish Central Bank, Chairman of the Board Finansmarknadsrådet and various positions in Östgöta Enskilda Bank and Alfred Berg.

Eva Halvarsson

Eva Halvarsson (1962), CEO Second National Pension Fund
Graduate in Economics. Elected in 2006.
Other Board positions: UN-PRI, Kungliga Operan, IWF, FinansKompetensCentrum and WIN WIN Award.
Previous experience: Auditor and manager State governance.

Christel Kinning

Christel Kinning (1962), Board assignments and own business
Economics and marketing. Elected in 2014.
Other board positions: Stadium, Reima, Zoundindustries, Venue Retailgroup and Björn Borg.
Previous experience: CEO Polarn O. Pyret, CEO RNB Retail and Brands and various management positions at Kellermann Scandinavia.

Kia Orback Pettersson (1959) Board professional
M.Sc. Economics. Elected in 2019.
Other board positions: Chairman of the board MediaPlanet and Friskis&Svettis. ledamot Visual Art, Knowit och Karolinska Sjukhuset.
Previous experience: Marketing Director Dagens Nyheter, Deputy CEO Guldfynd and CEO Sturegallerian.

Mikael Angberg (1973), CIO First National Pension Fund
MSc Engineering. Elected in 2019.
Previous experience: PIMCO, BNP Paribas, Goldman Sachs, AXA Investment Managers and CERN.

For further information please contact:
Senior Vice President, Corporate Communications – Peter Östman
Project Manager, Corporate Communications – Rebecca L Thorell



Vasakronan finances its activities either through owners’ capital or through external borrowing. The division between owners’ capital and borrowing is decided by weighting the requirements for returns and financial stability. External borrowing is done in the capital market through bonds or commercial papers, or from banks and the sources of financing is widely distributed as per below.


Commercial Paper

Total Amount MSEK 25 000
Maturity Less than one year
Change of Control Clause “Change of Control” occurs when shares representing 51 % of the votes in the issuer are not owned, directly or indirectly, by one or more of Första AP-fonden, Andra AP-fonden, Tredje AP-fonden and Fjärde AP-fonden.
Issuing and Paying Agent Svenska Handelsbanken AB
Dealers Danske Bank, Nordea, SEB, Handelsbanken Capital Markets, Swedbank, DnB
Clearing Systems Euroclear Sweden


Total Amount EUR 6 000 000 000 or its equivalent in other currencies
Maturity At least 1 year
Governing Law English, Norweigan (VPS Notes)
Listing Euronext Dublin, Oslo Stock Exchange
Change of Control Clause Change of Control occurs when the aggregated holdings of the AP Funds cease to represent at least 51 per cent of the total voting rights represented by the shares in Vasakronan and the rating is lowered by at least one full rating notch
Arranger Citibank
Dealers Barclays, BNP Paribas, Danske Bank, Deutsche Bank, Handelsbanken Capital Markets, Nordea, SEB, Swedbank, DNB Bank ASA
Clearing Systems Clearstream, Euroclear, Verdipapirsentralen ASA

EMTN Prospectus



EMTN Year of issue  Maturity Issued amount (M) Interest Final terms
1 2018  2033 220 NOK 3,560%
2   2018  2022 300 SEK 3M* + 0,750%
3 2018 2024 30 EUR 0,920%
4 2019 2039 5 EUR 2,390%
5 2019 2025 10 EUR 0,861%
6 2019 2027 15 EUR 1,210%
7   2019 2022 100 SEK 0,775%
8 2019 2044 10 EUR 2,533%
9   2019 2022 1 600 SEK 3M* + 0,590%
10   2019 2022 500 SEK 0,930%
11 2019 2029 200 NOK 3,020%
12 2019 2029 5 EUR 1,415%
13 2019 2026 50 EUR 1,023%
14   2019 2024 500 SEK 1,320%
15  2019 2024 400 SEK 3M* + 0,82%
15 : T2   2019 2024 100 SEK 3M* + 0,82%
16   2019 2029 63,6 EUR 1,369%
17 2019 2039 40 EUR 2,277%
18   2019 2026 100 SEK 3M* + 0,88%
19   2019 2039 10 000 JPY 0,95%
20    2019 2039  200  SEK 2,777% 
21    2019 2044  100  EUR 2,256%  
22   2019 2025 100 SEK 3M* + 0,71%
100 NOK

24 2019 2044 25 EUR 2,05%
25  2019 2039 10 EUR 1,87%
26  2019 2044 283 SEK 2,40%
27  2019 2034 30 AUD 3,27%
28 2019 2044 10 EUR 1,70%
29  2019 2029 75 USD 2,98%
30  2019 2029 600 SEK 3M* + 0,75%
30: T2  2019 2029 600 SEK 3M* + 0,75%
31 2019 2023 200 SEK 3M* + 0,75%
32 2019 2025 600 SEK 0,64%
32: T2 2019 2025 100 SEK 0,64%
33 2019 2039 100 SEK 1,655%
34 2019 2024 10 USD LIBOR 3M + 0,70%
35 2019 2039 25 AUD 3,10%
36 2019 2024 500 SEK 3M* + 0,70%
36:T2 2019 2024 500 SEK 3M* + 0,70%
37 2019 2025 200 SEK 3M* + 0,75%
38 2019 2039 30 EUR 1,115%
39 2019 2026 13 EUR 0,295%
40 2019 2024 200 SEK 3M +0,57%
41 2019 2031 25 AUD 2,752%
42 2019 2029 100 USD 2,679%
43 2019 2040 20 EUR 1,310%

 = Green bond
3M* = 3 months STIBOR

T = Tranche



Danske Bank

Louis Landeman +46 (8) 568 805 24


Kristina Solbakken +47 24 16 90 51


Johan Sahlström +46 (8) 463 46 37


Johan Malmborg +46 101 564 018


Ebba Lindahl +46 (8) 522 29681


Michael Johansson + 46 (72) 219 3691

and last but not least – the nameVasakronan, The Crown of Vasa

On 6 June 1523, Gustav Vasa was crowned the king of Sweden. He reigned until his death in September 1560 and is generally seen as the founder of the modern nation state of Sweden.

During his time, Sweden was united into one country under one crown, and he converted Sweden from Catholicism to Protestantism. A strong central authority was introduced during his time as ruler, and he strengthened both the influence of the state and the economy. He also built up and collected the state’s property holdings under a single management, which is how it remained until the beginning of the 1990s.

Then it was decided to privatise the majority of the state’s properties and in 1993 Akademiska Hus was founded to manage university and higher education properties.  The properties suitable for private ownership were transferred to another company named Vasakronan, The Crown of Vasa, in memory of the king who laid the groundwork for the state’s property holdings.

In May 1997, Vasakronan  divested its holdings of properties suited for operations with stringent security requirements (including courts, the Swedish Security Service and the Swedish Armed Forces) to a newly founded, publicly owned company – Specialfastigheter.

In 2008, the state sold Vasakronan to the Swedish national pension funds’ property company AP Fastigheter, which chose to keep the name Vasakronan, The Crown of Vasa.