Starwood Capital Group Acquires Portfolio of 10 UK Properties


GREENWICH, Conn., Jan. 22, 2014 /PRNewswire/ -- Starwood Capital Group, a leading global private investment firm, announced today that it had acquired, through an affiliate, a portfolio of UK properties from the Premier Property Group alongside Catalyst Capital, a European investment and asset management company. Terms of the transaction were not disclosed.

The portfolio of 10 properties comprises: Princes Mall in Edinburgh (located adjacent to Waverly Station); three multi-let office buildings -- including Kingsgate in Redhill and 26 Cross Street in Manchester; a multi-let industrial estate in Edinburgh; two single fully let industrial units; a retail parade in Lands Lane, Leeds; and two development sites. 

The transaction adds to Starwood Capital Group's growing portfolio in the UK and Ireland. In August 2013, the firm acquired a pool of 18 non-performing loans secured by 39 Irish commercial properties, which were heavily concentrated in Dublin, but also included sites in Killarney, Limerick and Waterford.

"This new transaction presents an opportunity to acquire assets in UK markets with strong demand generators at significantly below replacement cost," said Adam Shah, Vice President of Starwood Capital Group. "These markets are recovering rapidly, and we believe that through this uptrend as well as active asset management, value can be added."

"We are delighted to have completed this portfolio purchase from Premier Property Group with our long-term partner, Starwood Capital Group," said Guy Wilson, a Partner of Catalyst Capital. "The portfolio provides an opportunity for the whole UK team to deploy its asset management skills across a range of properties."

About Starwood Capital Group

Starwood Capital Group is a private, U.S.-based investment firm with a core focus on global real estate. Since the group's inception in 1991, the firm has raised approximately $23 billion of equity capital and acquired more than $45 billion in assets. Starwood Capital Group currently has $32 billion of assets under management. Starwood Capital Group maintains offices in Greenwich, Atlanta, San Francisco, Washington, D.C., Los Angeles, Chicago and Miami, and affiliated offices in London, Luxembourg, Paris, Frankfurt and Sao Paulo. Starwood Capital Group has invested in nearly every class of real estate on a global basis, including office, retail, residential, senior housing, golf, hotels, resorts and industrial assets. Starwood Capital Group and its affiliates have successfully executed an investment strategy that includes building enterprises around core real estate portfolios in both the private and public markets. Additional information about Starwood Capital can be found at www.starwoodcapital.com.

About Catalyst Capital

Headquartered in London with offices in Frankfurt, Paris and Warsaw, Catalyst Capital is a European investment and asset management company.  Established in 1996, Catalyst Capital structures, purchases, develops and manages a significant portfolio of retail, office, and industrial real estate in Europe.  Since its inception, Catalyst Capital has invested more than € 4.5 billion in real estate assets, including more than € 1.1 billion in 35 shopping centres. More information is available at www.catalystcapital.com.

SOURCE Starwood Capital Group



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