In 1994, Stellar Holdings’ owners, through their affiliate, Stellar ByggVesta Partners, acquired ByggVesta AB, a decades-old Scandinavian firm active in development, management, and property investment. The company’s portfolio in 1994 included more than 40 commercial properties, totaling more than 1.7 million square feet.
In 2003, ByggVesta shifted to a residential development-oriented business model. Working with local Swedish city governments and partnering with development and construction entities, the ByggVesta team began the development of apartments in Stockholm, Gotebörg, and Malmö. In the winter of 2006, ByggVesta, working with the University of Linköping, began construction of an on-campus student housing development—the first project of its kind in Sweden.