Arctic Securities acted as financial advisor in relation to the sale of Skt. Petri Hotel

Arctic has acted as the financial advisor to Strawberry Forever in relation to the sale of the Skt Petri Hotel in Copenhagen, voted the #1 hotel in Northern Europe 2020 by Condé Nast. This is the largest hotel transaction in Northern Europe in 2020. As part of the transaction, Starwood Capital is also acquiring ~50,000 sqft of leisure and retail space located on the ground floor of the hotel. 

Alongside the acquisition, Starwood Capital and Strawberry Forever intend to work together to pursue future hotel investments across the Nordics, drawing upon both parties’ hospitality experience and track records in hotel investing. As part of this relationship, Strawberry Hospitality Group will continue to operate the Skt. Petri while Starwood Capital plans for a redevelopment of the hotel. 

Timothy Abram, Vice President at Starwood Capital, said: “We are delighted to announce the acquisition of the Skt. Petri, which will be Starwood’s first real estate acquisition in Denmark, and look forward to announcing our future plans for the hotel in due course. We are also very excited to explore future acquisitions together with Petter Stordalen given his unique hospitality track record in the Nordics.” 

Petter A. Stordalen, owner of Strawberry Forever, said: “This transaction marks the beginning of a relationship between Strawberry and Starwood Capital, the world’s leading hotel investor.  In a post-corona world, we see numerous possibilities together as the hospitality industry recovers. Maybe it is telling that our first move together will be one of the largest European hotel transactions of 2021”  

Starwood Capital is one of the world’s largest private equity real estate investors, with more than 4,100 employees and $70bn of assets under management. The acquisition of Skt Petri marks the entry into the Nordic hotel market for Starwood Capital Group – along with being their first-ever acquisition in Denmark. 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.