# Eastnine

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/en/companies/eastnine).

## Overview

Eastnine is a Swedish real estate company focused on premium office properties in selected cities in Poland, Lithuania and Latvia. Its portfolio is centered on modern, sustainable office buildings leased to corporate tenants, with property ownership and active asset management carried out through local operations in its markets.

## Products & services

• Ownership of premium office properties
• Leasing of modern office space
• Property and tenant management
• Development and reconstruction projects
• Sustainability and green lease management

- **Office property ownership** (70%) — Direct ownership of office buildings held for rental income and value creation.
- **Leasing and tenant services** (20%) — Long-term office leases, tenant fit-out support and property-related services.
- **Property development and reconstruction** (5%) — Selective development and refurbishment of office assets when supported by leasing.
- **Sustainability and building operations** (5%) — Energy, certification, green lease and ESG-related property management activities.

- Ownership of premium office properties
- Leasing of modern office space
- Property and tenant management
- Development and reconstruction projects
- Sustainability and green lease management

## Customers

Eastnine’s customers are corporate tenants that lease office space in its properties, with a focus on large and stable companies with international operations. The tenant base is concentrated in finance, ICT and e-commerce, where occupiers value modern offices, good locations and flexible layouts that support recruitment and retention.

- **Large international office tenants** (primary) — Lease premium office space for regional or country headquarters and value stable, well-managed premises.
- **Finance sector tenants** (primary) — Buy office space in central locations with high service standards and strong building quality.
- **ICT tenants** (primary) — Lease flexible offices with modern technical standards and good indoor environment.
- **E-commerce and business services tenants** (secondary) — Use offices as operational hubs and want efficient, adaptable space in major cities.

- Large corporate office tenants with international operations
- Finance companies seeking prime, modern office locations
- ICT tenants needing flexible, high-spec workplace space
- E-commerce firms using offices for regional operations
- Tenants that value sustainability, services and long leases

## Geography

Eastnine owns office properties in Poland, Lithuania and Latvia, with key cities including Warsaw, Poznan, Vilnius and Riga. The business is therefore exposed to local office demand, planning conditions, financing markets and macroeconomic trends in Central and Eastern Europe.

- **Poland** (50%) — Core office market and largest operating exposure in the portfolio.
- **Lithuania** (25%) — Includes Vilnius office properties and local tenant demand.
- **Latvia** (25%) — Includes Riga office properties and local market exposure.

- Portfolio concentrated in Poland, Lithuania and Latvia
- Key office markets include Warsaw, Poznan, Vilnius and Riga
- Operations depend on local leasing demand in each city
- European banking relationships support property financing
- Regional political and planning conditions affect asset value

## Strategy

Eastnine’s strategy is to own and develop modern office properties in selected growth markets, with a strong emphasis on prime locations and sustainable buildings. It also seeks to secure long leases with high-quality tenants, use green leases and certifications to strengthen the asset base, and pursue selective acquisitions and development projects when leasing support is in place.

- **Expand the office portfolio in priority cities** (medium-term) — Adds scale in markets where Eastnine believes demand and financing are attractive.
- **Strengthen tenant quality and lease duration** (short-term) — Longer, higher-quality leases reduce vacancy risk and support recurring rental income.
- **Differentiate through sustainability and building quality** (medium-term) — Modern, certified and efficient offices support tenant retention and asset competitiveness.
- **Launch development projects selectively** (long-term) — Development can create value, but only when leasing and project economics are sufficiently secured.

- Focus on premium offices in selected growth cities
- Acquire assets where leasing demand and financing are attractive
- Maintain long-term tenant relationships and stable occupancy
- Use sustainability certifications and green leases as differentiation
- Pursue selective development only when pre-leasing is strong

## Risks

Eastnine’s main risks come from office demand, vacancy, financing conditions and the operating environment in its markets. The company also faces property-specific risks such as construction delays, technical defects, cyber threats, climate-related cooling costs and supply-chain compliance issues, all of which can affect operations and asset value.

- **Office demand and vacancy risk** [high] — Rental income depends on tenant demand, lease renewals and occupancy in each market.
- **Interest-rate and financing risk** [high] — The portfolio is capital-intensive and relies on bank debt and refinancing access.
- **Geopolitical and regional market risk** [medium] — Property values and tenant demand can be affected by political, economic and security conditions.
- **Cybersecurity risk** [medium] — Digital property management systems can be disrupted by attacks or unauthorized access.
- **Supplier and contractor compliance risk** [medium] — Third parties can create delays, cost overruns and reputational issues if standards are not met.
- **Climate-related operating cost risk** [low] — Warmer weather can increase cooling needs and energy consumption in office buildings.

- Office demand and vacancy risk in selected city markets
- Interest-rate and refinancing risk in a capital-intensive business
- Geopolitical and planning risk in Poland and the Baltics
- Cybersecurity risk affecting property management systems
- Construction, supplier and contractor execution risk

## Accounting

Eastnine’s reported results are shaped by fair value measurement of investment properties, lease accounting and the use of alternative performance measures such as rental income, WAULT and yield. Interest-rate derivatives and fixed-rate debt also matter because hedge accounting and valuation changes can affect reported volatility, while development projects and property valuations require judgment on timing, yields and completion assumptions.

- **Investment property fair value** — Can materially affect balance sheet values and reported profit
- **Lease accounting and WAULT** — Affects revenue timing and property cash flow analysis
- **Interest-rate derivatives** — Affects financing costs and derivative gains or losses
- **Development project capitalization** — Affects asset values and expense recognition

- Fair value changes on investment properties can drive reported earnings
- Lease terms and occupancy affect rental income and WAULT disclosures
- Interest-rate swaps influence financing costs and derivative valuations
- Development project assumptions affect capitalization and valuation
- Green leases and triple-net leases affect property expense allocation

---

*Last updated: 2026-08-11T04:04:51.871660+00:00*