VIENNA and LUXEMBOURG, Oct. 25, 2022 /PRNewswire/ — SOF-11 Klimt CAI Sarl, (the “Majority Shareholder”) the majority shareholder of CA Immobilien Anlagen AG (“CA Immo”) today announced that it has appointed David Smith to CA Immo’s Supervisory Board using its delegation rights under the registered shares held.
The appointment follows the resignation of Monika Wildner, Michael Stanton and Klaus Hirschler as elected Supervisory Board members and the recall of Laura Rubin as a delegated member, which were announced by the Company yesterday and will be effective 31 October.
The Majority Shareholder would like to thank outgoing Board Members for their hard work, diligence and commitment during their tenures.
SOF-11 Klimt CAI Sarl is a controlled affiliate of Starwood Capital Group, a global private investment firm with a primary focus on real estate.
Mr. Smith is a Senior Vice President in Starwood Capital’s European investment group and is responsible for its investments in the DACH (Germany, Austria and Switzerland) region. He has significant experience in originating and executing complex real estate transactions and financings across Europe & Asia.
Torsten Hollstein, the Chairman of the Supervisory Board, Jeffrey Dishner, President and Chief Operating Officer of Starwood Capital and Sarah Broughton, Managing Director, Chief Operating Officer and Chief Financial Officer for Europe, Starwood Capital and Starwood Capital Funds Luxembourg will remain in their current positions on the Supervisory Board of the Company.
As a result of the above changes, the size of the Supervisory Board will be reduced to six members comprising of two employee representatives and four capital representatives.
Starwood Capital is convinced that CA Immo remains the highest-quality listed office developer and owner in Europe, with a portfolio and land bank focused on the region’s highest-growth and most resilient markets, in particular Berlin. The Company’s premium quality modern asset base, in-house development capability and focus on sustainability position it well for continued success, particularly as corporates’ occupational requirements evolve.
The Majority Shareholder is committed to working closely with the Management Board to deliver on its strategy and maximize value for all shareholders. This will include a continued focus on capital rotation and investment in attractive opportunities within CA Immo’s existing portfolio and development pipeline alongside new acquisitions and balance sheet management or the return of capital to shareholders. The Majority Shareholder will also work closely with employee representatives to ensure that CA Immo remains an employer of choice in its core markets, while maintaining a disciplined focus on costs across the organisation.
Barry Sternlicht, Chairman and CEO of Starwood Capital Group, commented: “We believe that these changes to the composition of the Supervisory Board will help support the Management Board in the execution of the corporate strategy, to capitalise on CA Immo’s high-quality asset base and development capabilities, and to maximise returns for all shareholders and stakeholders.”
Starwood Capital Group is a private investment firm with a core focus on global real estate, energy infrastructure and oil & gas. The Firm and its affiliates maintain 16 offices in seven countries around the world, and currently have approximately 4,500 employees. Since its inception in 1991, Starwood Capital Group has raised over $70 billion of capital, and currently has approximately $125 billion of assets under management. Through a series of comingled opportunity funds and Starwood Real Estate Income Trust, Inc. (SREIT), a non-listed REIT, the Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Starwood Capital also manages Starwood Property Trust (NYSE: STWD), the largest commercial mortgage real estate investment trust in the United States, which has successfully deployed over $91 billion of capital since inception and manages a portfolio of $27 billion across debt and equity investments. Over the past 31 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at starwoodcapital.com.
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