MIAMI, 23 Aug 2021 / PRNewswire / – A Joint Venture Between A Subsidiary Of Starwood Capital Group, A Leading Global Investment Firm, And Arrow Capital Partners, A Real Estate Investor And Operator, Announces Agreement To Recapitalize Office Portfolio and industrial assets alongside Altis Property Partners. The recapitalization will allow more investment in the portfolio and provide liquidity to some investors.
The portfolio includes 12 properties with a total value of over 760 million Australian dollars located across Sydney, Melbourne and Brisbane. The current strategy will continue to lease vacant space and expired leases for long-term investments and value creation.
James fogarty, the senior vice president of Starwood said:
“Starwood Capital is pleased to invest in this portfolio of high quality offices and industries. The assets are located in strategic markets with limited supply and high demand. This acquisition increases our already significant exposure to Australia which we plan to continue. “
Kurt wilkinson, partner at Arrow Capital Partners said:
“Arrow is delighted to expand our investments with Starwood Capital and to work with the Altis management team to further increase the revenues and value of this portfolio. We have worked with Altis for many years and value their expertise as high quality operators. “
Starwood and Arrow first invested in St Leonards in 2017, where they recently received planning approval for a 57,000 m² mixed-use development. Starwood and Arrow also own the Zenith towers at Chatswood, which were acquired in 2019. This will bring the value of the investments to over $ 1.5 billion.
About Starwood Capital Group
Starwood Capital Group is a private investment firm focused on global real estate, energy infrastructure, and oil and gas. The firm and its affiliates have 16 offices in seven countries around the world and currently employ approximately 4,000 people. Since its inception in 1991, Starwood Capital Group has raised more than 60 billion dollars of capital and currently has around $ 95 billion assets under management. Through a series of combined opportunity funds and Starwood Real Estate Income Trust, Inc. (SREIT), an unlisted REIT, the company has invested in virtually every category of real estate globally, changing from opportunistically asset classes, geographies and positions. in the capital pile because he perceives that the risk / reward dynamic is changing. Starwood Capital also manages Starwood Property Trust (NYSE: STWD), the largest commercial real estate investment fund in United States, which has successfully deployed on $ 72 billion of capital since its creation and manages a portfolio of more than $ 19 billion through investments in debt and equities. Over the past 29 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy of building businesses in the private and public markets. Additional information is available at starwoodcapital.com.
Tom johnson / Dan Scorpio
Abernathy MacGregor Group
[email protected] / [email protected]
SOURCE Starwood Capital Group