{"id":1004123540,"date":"2015-07-20T06:26:36","date_gmt":"2015-07-20T14:26:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004123540"},"modified":"2020-05-13T02:50:45","modified_gmt":"2020-05-13T10:50:45","slug":"international-starwood-comes-to-luxembourg","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/international-starwood-comes-to-luxembourg\/","title":{"rendered":"International: Starwood Comes to Luxembourg"},"content":{"rendered":"

By Adrian Maties, Associate Editor<\/em><\/p>\n

Starwood Capital Group <\/a>is expanding in Europe. The private investment firm announced on Thursday, that Starwood Global Opportunity Fund X has purchased two Class A office buildings in Luxembourg, through a controlled affiliate.<\/p>\n

This is Starwood\u2019s first investment in Luxembourg. The company paid a total of \u20ac120 million, about $132 million, for the two properties located in the heart of the Cloche D’or office market. The transaction also includes zoned land to develop an additional 32,300 square feet of space.<\/p>\n

Although Starwood said that the two buildings offer a total of 283,037 square feet of space, it refused to name them or share any other details about the transaction. However, Caleb Mercer, vice president at Starwood, said in a statement that the office buildings are newly built, have strong tenants and that they are the first properties with Haute Qualit\u00e9 Environnementale certification in the market. HQE is a standard of green building in France. According to www.greenbuildinginfo.eu, there are only two such properties in Luxembourg. They are the Royal 32, at 32 Boulevard Royal, and the SolarWind, at 11-13 Rue de l’Industrie.<\/p>\n

“We are excited to be able to enter to the Luxembourg office market at what we believe is an attractive entry point in the occupier cycle,” Zsolt Kohalmi, Starwood\u2019s head of European Acquisitions, said in a statement. “This market already has sub-5 percent vacancy levels, and we believe that as more companies look to expand their operations in Luxembourg and the European Union increases its presence there, we will see further rental growth.”<\/p>\n

Rynda Property Investors L.L.P. will manage Starwood\u2019s new Luxembourg properties.<\/p>\n","protected":false},"excerpt":{"rendered":"

The private investment firm is expanding in Europe.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,21783,21742,21747],"tags":[],"class_list":["post-1004123540","post","type-post","status-publish","format-standard","hentry","category-international","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"\nInternational: Starwood Comes to Luxembourg - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/international-starwood-comes-to-luxembourg\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"International: Starwood Comes to Luxembourg\" \/>\n<meta property=\"og:description\" content=\"The private investment firm is expanding in Europe.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/international-starwood-comes-to-luxembourg\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-20T14:26:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-13T10:50:45+00:00\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/international-starwood-comes-to-luxembourg\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/international-starwood-comes-to-luxembourg\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"International: Starwood Comes to Luxembourg\",\"datePublished\":\"2015-07-20T14:26:36+00:00\",\"dateModified\":\"2020-05-13T10:50:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/international-starwood-comes-to-luxembourg\\\/\"},\"wordCount\":278,\"commentCount\":0,\"articleSection\":[\"International\",\"Investment\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/international-starwood-comes-to-luxembourg\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/international-starwood-comes-to-luxembourg\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/international-starwood-comes-to-luxembourg\\\/\",\"name\":\"International: Starwood Comes to Luxembourg - 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