(London)Acquisition of landmark hotel in Central Copenhagen marks Starwood Capital’s firstreal estate investment into Denmark.
– Starwood Capital Group (“Starwood Capital”), a globalprivate investment firm focused on real estate and energy investments, announced today thata controlled affiliate has acquired the Skt. Petri hotel in Copenhagenfrom Strawberry Forever for an undisclosed sum.
Located in the heart of Copenhagen, the Skt. Petri has 288 rooms and was voted the #1 hotelin Northern Europe by Condé Nast in 2020. As part of the transaction, Starwood Capital is alsoacquiring ~50k sqft of leisure and retail space located on the ground floor of the hotel.
Alongside the acquisition, Starwood Capital and Strawberry Forever intend to work togetherto pursue future hotel investments across the Nordics, drawing upon both parties’ hospitalityexperience and track records in hotel investing. As part of this relationship, StrawberryHospitality Group will continue to operate the Skt. Petri while Starwood Capital plans for aredevelopment of the hotel.
Timothy Abram, Vice President at Starwood Capital, said: “We are delighted to announce theacquisition of the Skt. Petri, which will be Starwood’s first real estate acquisition in Denmark,and look forward to announcing our future plans for the hotel in due course. We are also veryexcited to explore future acquisitions together with Petter Stordalen given his uniquehospitality track record in the Nordics.”
Petter A. Stordalen, owner of Strawberry Forever, said: “This transaction marks the beginningof a relationship between Strawberry and Starwood Capital, the world’s leading hotel investor.In a post-corona world, we see numerous possibilities together as the hospitality industryrecovers. Maybe it is telling that our first move together will be one of the largest Europeanhotel transactions of 2021.”
Arctic Securities and Bech Bruun acted for Strawberry Forever on the sale. Nordic HotelConsulting, Paul Hastings and Accura advised Starwood Capital on the acquisition.
About Starwood Capital
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 sevencountries around the world, and currently have approximately 4,000100 employees. Since itsinception in 1991, Starwood Capital Group has raised nearly $5055 billion of equity capital, andcurrently has in excess of $6070 billion of assets under management. The Firm has invested invirtually 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 beevolving. Over the past 29 years, Starwood Capital Group and its affiliates have successfullyexecuted an investment strategy that involves building enterprises in both the private andpublic markets. Additional information can be found at starwoodcapital.com.
About Strawberry Forever
Strawberry Forever is a real estate company which owns and manages commercial propertyworth 6.2 BNOK. Strawberry Forever invests in high-quality real estate with a prime locationin major cities and capitals in the Nordic region. For more information: strawberry.no.
Media Contacts for Starwood Capital:
Tom Johnson/Dan ScorpioAbernathy MacGregor
(212) 371-5999
tbj@abmac.com / dps@abmac.com
Media Contacts for Strawberry Forever:
Ida Holen
+47 975 44. 903
ida.holen@choice.no
Kenneth Hultgren
+46706958590
kenneth@strawberry.se
