Starwood Capital Group enters U.K. urban industrial market
Starwood Capital Group has acquired 10 U.K. urban industrial estates totaling 1.6 million square feet for £200 million ($260 million).
“We are excited to be entering the U.K. urban industrial market with this acquisition and believe the portfolio is well placed to capture the growth the sector is exhibiting,” said Matthew Parrott, vice president at Starwood Capital.
The portfolio is centered on major urban centers, including Oxford, Birmingham and Glasgow, and was acquired from an institutional client of Barings. Under the terms of the transaction, Barings will continue to provide asset management services to Starwood Capital in respect of the portfolio.