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Starwood Capital, Arrow Capital JV recapitalizes properties in Australia
Investors - AUGUST 24, 2021

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Starwood Capital, Arrow Capital JV recapitalizes properties in Australia

by Released

A joint venture between an affiliate of Starwood Capital Group and Arrow Capital Partners, an investor and operator of real estate, has entered into an agreement for the recapitalization of a portfolio of office and industrial assets alongside Altis Property Partners. The recapitalization will allow further investment in the portfolio and provide liquidity for some investors.

The portfolio comprises 12 properties with a total value of more than A$760 million ($550 million) located across Sydney, Melbourne and Brisbane. The current strategy will continue to be leasing vacant space and expiring tenancies for long-term investment and value creation.

Starwood and Arrow first invested in 2017 into St Leonards, where it recently achieved planning approval for a mixed-use development of 57,000 square meters (613,540 square feet). Starwood and Arrow also owns the Zenith towers in Chatswood, which was acquired in 2019. This will take the value of the investments to more than A$

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