Starlight 10 EUR, part of U.S.-based Starwood Capital Group, has acquired a 26 percent stake in Austrian property group CA Immo from Immofinanz for a total investment price of €758 million ($879 billion).
Starwood had launched a bid to buy up to 26 percent in CA Immo in April.
The U.S. property investment firm considers Austria as an attractive market and was committed to increase its real estate exposure there, reported Reuters in April.
The transaction is subject to the release by the cartel authorities and the approval of the management board of CA Immo for the transfer of the registered shares. The closing is expected to take place during the third quarter 2018.
