COMFORT HOTEL VESTERBRO - UNDISCLOSED AMOUNT

Arctic has acted as the financial advisor to Strawberry Forever in relation to the sale of the 399-room Comfort Hotel Vesterbro in central Copenhagen. This is one of the largest hotel transaction in Europe in 2021, and marks the second transaction in the ongoing collaboration between Strawberry and Starwood Capital.

Petter A. Stordalen, owner of Strawberry Forever, said: “This transaction marks the further development of the collaboration between Strawberry and Starwood Capital, the world’s leading hotel investor.”  

Timothy Abram, Vice President at Starwood Capital, said: “We are delighted to have completed a second transaction in Copenhagen as part of our ongoing partnership with Strawberry. This transaction also represents the first European leased hotel investment of SREIT, for which we intend to make additional European leased hotel investments in the future.” 

As part of the collaboration between Starwood Capital and Strawberry, Strawberry Hospitality Group will continue to operate the Comfort Hotel Vesterbro under a long-term lease agreement.

Starwood Capital is one of the world’s largest private equity real estate investors, with more than 4,000 employees and $95bn of assets under management. Their latest fund is the largest in its class at $11bn. The acquisition of Comfort Hotel Vesterbro is Starwood Capital Group’s second in the Nordic hotel market. Starwood has acquired more than 1,000 hotels and more than 310,000 hotel rooms since it was established in 1991.

Strawberry Forever is a real estate company which owns and manages commercial property worth NOK 6.2bn. Strawberry Forever invests in high-quality real estate with prime location in major cities and capitals in the Nordic region.