Starwood Drops $589M On 7 Swedish Retail Centers

Law360, New York (November 19, 2013, 1:35 PM EST) -- With its second retail property acquisition this week, Starwood Capital Group said Tuesday it has acquired seven retail shopping centers in Sweden for about SEK 3.9 billion ($589 million) in a joint venture with Swedish-based Vencom Property Partners.

Starwood said it purchased the seven shopping centers, located in Sweden’s four largest cities — Stockholm, Gothenburg, Malmo and Uppsala — from Swedish company Kooperativa Forbundet. The properties cover approximately 205,000 square meters (2.2 million square feet), and the deal includes the rights for an additional 70,000 square...
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