Starwood Capital has provided a €437m loan to One Investment Management (OneIM) and Orange Capital Partners (OCP) for their acquisition of an 89.9% stake in a German residential portfolio from Adler Group.

Last month, Adler Group announced the completion of the sale of an 89.9% stake in its Cosmopolitan portfolio, comprising 170 buildings with 6,788 rental units in North Rhine-Westphalia to OneIM and OCP.

The transaction, which had been announced in December 2024, was based on a property value of €422.5m.

JLL said it brokered the financing by advising the buyer and added that a Starwood credit fund provided the buyer consortium with the debt capital as a whole loan.

Dominik Rüger, team leader, debt advisory at JLL Germany, said: “The deal shows that credit funds are now competitive even in the traditional business areas of traditional financiers. Alternative lenders are clearly on the rise in Europe.”

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