Starwood Capital Group Acquires Logisitics Portfolio from Fabritius
February 11, 2022 | Starwood Capital Group
Starwood Capital Group (“Starwood Capital”), a global private investment firm focused on real estate and energy investments, announced today that funds advised by Starwood Capital have acquired a portfolio of two logistics assets from Fabritius Gruppen AS (“Fabritius”) for an undisclosed sum.
The portfolio consists of two logistics assets, Høgslundveien 49 and Sanitetsveien 1, totaling ~34,500 SQM. Both assets are located in the greater Oslo area.
Starwood Capital will acquire the logistics portfolio into Starwood Real Estate Income Trust, Inc. (“SREIT”), a non-listed REIT managed by Starwood Capital. The acquisition represents the first investment in Norway for SREIT, and also the first acquisition as part of a wider pan-Nordic logistics strategy with the aim of assembling a €1 billion+ Nordic logistics portfolio over the next 12-18 months.
Timothy Abram, Senior Vice President at Starwood Capital, said: “We are delighted to have completed our first logistics transaction in Norway for SREIT. Our intention is that this transaction represents the first of a wider strategy to assemble a sizeable pan-Nordic logistics portfolio over the near term.”
Martin Frivold, Investment Director at Fabritius, said: “We want to congratulate Starwood Capital as the new owner of two prime logistics assets. We also want to thank the Starwood Capital/Anvil team for a seamless and efficient sales process. Fabritius still plans for future growth, but this was a strategic portfolio adjustment, setting us up for faster and larger developments within the logistic space over the coming years.”
Anvil Asset Advisors will be SREIT’s operating partner for the investment, having partnered with Starwood Capital on previous investments in Norway.
Arctic Securities and Wikborg Rein advised SREIT on the transaction, while the law firm Føyen advised Fabritius.
About Starwood Capital Group
Starwood Capital Group is a private investment firm with a core focus on global real estate, energy infrastructure and oil & gas. The Firm and its affiliates maintain 16 offices in seven countries around the world, and currently have approximately 4,000 employees. Since its inception in 1991, Starwood Capital Group has raised over $65 billion of capital, and currently has over $110 billion of assets under management. Through a series of comingled opportunity funds and Starwood Real Estate Income Trust, Inc. (SREIT), a non-listed REIT, 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. Starwood Capital also manages Starwood Property Trust (NYSE: STWD), the largest commercial mortgage real estate investment trust in the United States, which has successfully deployed over $76 billion of capital since inception and manages a portfolio of over $24 billion across debt and equity investments. Over the past 30 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.
About Starwood Real Estate Income Trust
Starwood Real Estate Income Trust, Inc. is a perpetual-life, monthly NAV REIT that directly invests in high quality, stabilized, income-producing real estate. SREIT is managed by Starwood REIT Advisors L.L.C., a subsidiary of Starwood Capital Group. For more information, please visit our website at www.starwoodnav.reit.
About Fabritius Gruppen AS
Fabritius is a real estate company privately owned by Gjelsten Holding AS (Bjørn Rune Gjelsten), with a main focus on warehouse and logistics assets. Fabritius is the leading developer in the Oslo region within this asset class, with more than NOK 1 million sqm ready for development, and around 90.000 sqm under construction. The logistics portfolio including ongoing projects will generate rental income above NOK 250 million. Fabritius is now well-positioned for further growth with both a large development pipeline and a strong financial position.
Media Contacts for Starwood Capital:
Tom Johnson/Dan Scorpio
Abernathy MacGregor
(212) 371-5999
tbj@abmac.com / dps@abmac.com
Media Contacts for Fabritius Gruppen AS:
Asgeir Solheim / Martin Frivold
+47 957 68 648 / +47 977 47 579
asgeir.solheim@fabritius.no / martin.frivold@fabritius.no
