Additional Slättö case studies
In addition to the case studies presented in more detail in this report, the examples below highlight a selection of energy efficiency initiatives being implemented across Slättö's portfolio.
In the residential cases below, Slättö bears the heating costs, so opex savings from lower energy bills flow directly into higher net operating income. In logistics and light industrial, tenants bear the energy costs, and the lower opex was linked to a rent increase. In the hotel segment, the energy upgrades formed part of a broader renovation and repositioning strategy.
It is important to note that Swedish EPC ratings are stricter than in the EU. A Swedish C is equivalent to a Dutch A. Swedish energy ratings will be rescaled to align to other EU countries.
Residential
Old-stock residential "always-do" improvements
Slättö has carried out a portfolio-wide implementation of energy
improvements across its old residential stock in the regional city of Kalmar to reduce opex costs and improve energy ratings.
The measures include:
Attic insulation upgrades to reduce heat loss and improve overall energy efficiency.
Installation of water-saving fixtures to lower water consumption and operating costs.
Deployment of drying cabinets as an energy-efficient alternative to traditional tumble dryers.
| Key results | |
| Energy capex, EUR | 123 k |
| NOI, EUR | +50 k |
| Yield on Cost | 40% |
| EPC improvement | To be measured after a year in operation |
Smart energy optimisation in Stockholm
Slättö is implementing targeted energy capex in an older residential asset in Stockholm. As is often the case with Slättö’s investment approach, the opportunity to improve energy efficiency was identified at transaction.
Measures include the implementation of smart automation, metering and continuous energy optimisation to reduce operating costs, as well as the refurbishment of existing solar thermal panels and the heat pump system to improve efficiency and reliability.
| Key expected results | |
| Energy capex, EUR | 470 k |
| NOI, EUR | +53 k |
| Yield on Cost | 11.3% |
| EPC improvement | From F to D, target Taxonomy alignment |
Geothermal heating in Greater Stockholm
Slättö plans to install geothermal heating in this newly built residential asset. By replacing district heating with a geothermal system using solar-powered, high-efficiency heat pumps, the property will eliminate district heating costs entirely.
The project results from a portfolio-wide analysis in which Slättö identified assets with strong potential to transition from district heating to geothermal energy, particularly in areas such as Vallentuna where district heating prices have risen significantly.
| Key expected results | |
| Energy capex, EUR | 500 k |
| NOI, EUR | +48 k |
| Yield on Cost | 9.6% |
| EPC improvement | From B, to B or A |
Brown-to-green conversion in Stockholm
Slättö plans to carry out a brown-to-green conversion of this old-stock residential asset through a series of targeted energy efficiency upgrades. The measures include ventilation upgrades, heat optimisation, smart automation and attic insulation to reduce heat loss.
The project will lower the property's energy consumption and reach Taxonomy alignment post investment.
| Key expected results | |
| Energy capex, EUR | 900 k |
| NOI, EUR | +70 k |
| Yield on Cost | 7.8% |
| EPC improvement | Target Taxonomy alignment |
Logistics and light industrial
Energy performance uplift in Gothenburg
Slättö acquired this old-stock light industrial asset with a plan to improve energy performance. Gas boilers were replaced with air-to-water heat pumps, alongside the installation of a heat recovery ventilation system and rooftop solar. The EPC rating improved from G to C, reaching Taxonomy alignment.
The measures supported a rent increase. An independent survey also showed an 8% increase in tenant satisfaction related to indoor climate.
| Key results | |
| Energy capex, EUR | 340 k |
| NOI, EUR | +34 k |
| Yield on Cost | 10% |
| EPC improvement | From G to C, Taxonomy aligned |
Energy performance uplift in Norrköping
Slättö has carried out a structured energy capex plan prioritised to improve the asset's energy rating. The property has been upgraded with high-efficiency fans, delivering approximately 50% energy savings, and insulated heating pipes, resulting in improved energy performance and lower operating costs.
Deferred capex in the asset was also reduced.
| Key results | |
| Energy capex, EUR | 350 k |
| NOI, EUR | +35 k |
| Yield on Cost | 10% |
| EPC improvement | From G to D |
Energy and operational upgrade in Greater Gothenburg
Slättö acquired this older logistics asset with a clear plan to improve energy efficiency and operational performance.
The asset has since undergone a ventilation upgrade, installation of LED lighting, implementation of a new heating system, and the addition of new loading ports. These measures enhance energy efficiency, reduce operating costs, and strengthen the property’s functionality for modern logistics tenants.
| Key results | |
| Energy capex, EUR | 350 k |
| NOI, EUR | +35 k |
| Yield on Cost | 10% |
| EPC improvement | From E, new EPC to be measured after a year in operation |
Brown-to-green transition in Greater Stockholm
Slättö acquired this logistics asset with a plan to reposition the property.
A redevelopment has now been completed, and the property has been upgraded to newly built technical standards and now holds an Energy Class B rating. The repositioning enhances long-term income resilience and exit liquidity.
| Key results | |
| Energy capex, EUR | 350 k |
| NOI, EUR | +35 k |
| Yield on Cost | 10% |
| EPC improvement | From E to B, Taxonomy aligned |
Energy performance uplift in Greater Stockholm
This old-stock asset has been repositioned through a targeted energy upgrade plan, including new ports, enhanced insulation, heat recovery ventilation, LED lighting, and the implementation of a supervisory control system.
These measures have improved energy efficiency, operational control, and cost performance.
| Key results | |
| Energy capex, EUR | 140 k |
| NOI, EUR | +14 k |
| Yield on Cost | 10% |
| EPC improvement | From E, new EPC to be measured after a year in operation |
Brown-to-green transition in Greater Malmö
The assets are currently undergoing a brown-to-green transition focused on reducing fossil energy dependency and improving operational efficiency.
Key measures include replacing gas boilers with district heating or heat pumps, installing rooftop solar, and upgrading the ventilation system with potential heat recovery from tenant processes.
| Key expected results | |
| Energy capex, EUR | 870 k |
| NOI, EUR | +76 k |
| Yield on Cost | 9% |
| EPC improvement | From G to C/B, Taxonomy aligned |
Energy performance upgrade in Greater Gothenburg
When Slättö acquired this old-stock asset, an energy performance uplift was part of the asset plan at transaction.
A targeted capex plan is being executed, including ventilation upgrades and the installation of LED lighting, aimed at structurally reducing energy consumption and operating costs.
| Key results | |
| Energy capex, EUR | 140 k |
| NOI, EUR | +14 k |
| Yield on Cost | 10% |
| EPC improvement | New EPC to be measured after a year in operation |
Energy performance upgrade in Helsinki
Following Slättö's acquisition of the asset, an assessment of its current energy performance was conducted. Dialogue was subsequently initiated with the tenant to explore investments in energy-efficient installations and on-site renewable energy solutions.
Key measures implemented include LED lighting, solar panels, and a new, more efficient building automation system, resulting in the asset's energy class improving from E to A.
| Key results | |
| Energy capex, EUR | 200 k |
| NOI, EUR | +20 k |
| Yield on Cost | 10% |
| EPC improvement | From E to A |
Hotels
Office-to-hotel conversion in central Helsinki
Slättö acquired this property in 2023 with a clear strategy to convert it from office to hotel and reposition it through a brown-to-green refurbishment. The 1970s building has undergone a deep renovation, delivering energy performance upgrades and resulting in LEED Gold certification. Energy efficiency improvements included window and roof renovation, HVAC-system upgrades and rooftop solar.
| Key results | |
| EPC improvement | From E/C to B |
Hotel repositioning in central Helsinki
Slättö acquired this asset in 2023. Since then, the 1980s building has undergone a full refurbishment to modern standards, improving energy performance and achieving LEED Gold certification.
This asset was recognized as a finalist in the GRI Awards Europe 2024 in the category of best hospitality project.
| Key results | |
| EPC improvement | From unrated to C |
Office-to-hotel conversion in central Copenhagen
Slättö acquired this asset in 2025 with a clear strategy to reposition it through a change of use and brown-to-green conversion. The redevelopment will transform the former office property, targeting DGNB Gold certification.
| Key results | |
| EPC improvement | From G to B |
