Starwood Capital Group buys assets in Sydney

A joint venture between Starwood Capital Group affiliate, Arrow Property Investments, and Pindan Capital has acquired a 190,000-square-foot office in North Sydney. The terms of the deal were not disclosed.

The seller was Wingate Group.

The property is located in the St. Leonards, a delegated Priority Precinct district of New South Wales State Government in the growing main corridor area.

The asset will be managed by Arrow Property Investments and Pindan Capital.

Arrow Property Investments’ Kurt Wilkinson said, “With significant government infrastructure spend, the addition of metro rail in a market seeing strong growth in both the medical and residential sectors, the St Leonards Precinct is set to undergo significant transformation in the future. We are pleased to have sourced such a significant investment opportunity and are proud to be partnering with Starwood Capital Group.”
Arrow Property Investments is a Sydney-based boutique asset investment and development company specializing in commercial asset value added and opportunity repositioning.

Pindan Group is a general construction and asset group in Western Australia.