Sternlicht’s Starwood Clinches $4.65 Billion Landlord in Austria

Starwood Capital Group secured a majority stake in Austrian landlord CA Immobilien Anlagen AG, tipping its holdings above 50% in a two-round purchase tender.

Barry Sternlicht’s property heavyweight raised its ownership in the Vienna-based company to 58.8% from an initial 26%, it said in a statement Friday. The deal values the company at 3.94 billion euros ($4.65 billion) and includes the purchase of a 6% stake from rival S Immo AG.

Starwood Capital’s takeover follows an initial$882 million investment in 2018 and has succeeded despite plans by other real estate investors to counter its expansion. CA Immo ...