Starwood Capital Group and SveaReal Fastigheter have on 19 December 2014 announced that the two parties have signed an agreement whereby an affiliate of Starwood plans to acquire SveaReal.
SveaReal is a property company owning 79 properties in Sweden with approx. 838,000 square meters of gross leasable area. The transaction is conditional upon approval by a shareholders' meeting in SveaReal and the approval by the Swedish Competition Authority. In conjunction with the transaction, Starwood has entered into an agreement to acquire Fortin in Norway, which is an affiliate of SveaReal. SveaReal and Fortin are in total valued at approx. SEK 11 billion. As an alternative to a sale, SveaReal has undertaken preparations for an IPO of the company.