Starwood Capital Acquires UK REIT for £674M at 9% Discount Amid Property Industry Consolidation

Starwood Capital has agreed to acquire a UK real estate investment trust (REIT) at a 9% discount for £674M, reflecting a broader trend of consolidation in the property industry. Simultaneously, Segro, a warehouse landlord, has struck a deal to acquire a smaller rival. These moves come as commercial property activity heats up. Additionally, Starwood is seeking an extension on a £200M maturing Spanish office loan. In related news, Blackstone has closed a loan extension on San Francisco's Schwab Building after defaulting, and an Oakland housing tower has been taken over by a lender due to a failed property loan.