OSLO, Norway—Starwood Capital has executed what might be among the largest Scandinavian real estate deal ever, worth $1.4 billion (NOK 11B). Colliers International co-advised on the Norwegian part of this deal.
The acquisition includes a collection of 27 properties in Norway, consisting of office (58% of the portfolio), retail (28%), logistics/industrial (9%), hotel (1%) and other (2%) assets totaling more than 2.3 million square feet (215,000 sm) of gross leasable area, as well as DNB NOR Eiendomsinvest I ASA's management platform.
"The economic fundamentals of this region are very solid, and population growth coupled with low vacancy rates makes this a very interesting market for Starwood Capital Group," said Zsolt Kohalmi, head of European acquisitions at Starwood Capital.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
