LONDON, June 4, 2018 /PRNewswire/ -- Starwood Capital Group, a leading global private investment firm, announced today the acquisition of the San Fernando Business Park through a controlled affiliate. Terms of the transaction were not disclosed.
San Fernando Business Park is an 87,000 square-meter office park located in Madrid's primary logistic and distribution corridor. The park is occupied by tenants representing an exceptionally broad and diverse range of industries. Starwood Capital intends to optimise the asset through active management, which will help drive up occupancy and enhance the asset's long-term value.
"We are thrilled to add a property to our portfolio that allows us to capitalize on the strong growth of the Spanish economy and office market at a significant discount to replacement cost," said Francesco Zanella, Vice President at Starwood Capital. "San Fernando Business Park is an established office scheme with significant upside potential. We look forward to investing in the property to accelerate its existing growth trajectory through Starwood Capital's dynamic asset management capabilities and initiatives."
Starwood Capital was advised by Drago Capital, Savills Aguirre Newman and Dentons on this transaction whilst the seller was advised by Herbert Smith Freehills and CBRE.
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.
SOURCE Starwood Capital Group