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Starwood Capital, partners buy Sydney office building for A$160M

A Starwood Capital Group affiliate picked up a 190,000-square-foot office building in North Sydney in a joint venture partnership with Arrow Property Investments and Pindan Capital.

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Office building in Sydney
Source: Starwood Capital Group

The companies did not disclose the terms of the transaction, but IPE Real Assets pegged the purchase price at A$160 million.

The property will be managed by the joint venture and Arrow Property Investments and Pindan Capital as operating partners.

The acquired property in St. Leonards marks the first Sydney investment for Starwood Capital as the company looks to tap into Australia's expanding economy, transparent business environment and positive demographics, Starwood Capital Managing Director Kevin Colket said in a release.