Starwood Capital Group has agreed to acquire Austrian real estate company CA Immo. No financial terms were disclosed. The deal is expected to close in the third quarter of this year. UBS, Schoenherr Rechtsanwaelte and Cushman & Wakefield advised Starwood Capital on the transaction.
VIENNA and LUXEMBOURG, July 2, 2018 /PRNewswire/ — Starwood Capital Group, a leading global private investment firm, today announced it agreed to acquire through controlled affiliates from Immofinanz Group 25,690,163 no par value bearer shares and four registered shares in CA Immobilien Anlagen AG (“CA Immo”), representing approximately 26% of the total issued shares in CA Immo.
Barry Sternlicht, Chairman and CEO of Starwood Capital Group, said, “Starwood Capital is a leading global investor with a strong track record across many asset classes in the real estate sector as well as in growing, high-performing public companies. We see great potential in the Austrian, German and Central and Eastern European real estate markets, and are convinced that as a long-term oriented, strategic anchor shareholder with substantial capital resources and relevant experience, we are a natural partner to support the management team of CA Immo in achieving high sustainable returns for its shareholders.”
Keegan Viscius, a Senior Vice President responsible for Starwood Capital’s real estate investments across Europe, said, “This significant investment reflects our continued confidence in the underlying fundamentals of the Austrian, German and Central and Eastern European markets. We are excited to partner our flexible capital and experience with CA Immo’s market leading platform.”
The transaction is subject to regulatory and other approvals associated with a transaction of this nature, is expected to close in Q3 2018.
UBS, Schoenherr Rechtsanwaelte, and Cushman & Wakefield advised Starwood Capital.
About Starwood Capital Group
Starwood Capital Group is a private alternative investment firm with a core focus on global real estate, energy infrastructure and oil & gas. The Firm and its affiliates maintain 11 offices in five countries around the world, and currently have approximately 3,800 employees. Starwood Capital Group has raised $45 billion of equity capital since its inception in 1991, and currently manages approximately $56 billion in assets. The Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Over the past 26 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at starwoodcapital.com.