Starwood Capital Group and Swedish residential developer Oscar Properties have established a new joint venture for the development of Primus 1 in Stockholm. 

The property is located at Lilla Essingen, an attractive residential area just by the water and close to Stockholm city. Construction is planned to start in Q2 2019. Starwood owns 70 percent and Oscar Properties owns 30 percent of the new company.

Pangea Property Partners was sole financial adviser in the transaction.