Starwood REIT Increases NAV and Appoints New Managing Director
Starwood Real Estate Income Trust, Inc, a perpetual-life monthly NAV REIT sponsored by private investment firm Starwood Capital Group, updated its net asset values for its Class S, Class I, Class D and Class T shares of common stock as of August 31, 2019.
Starwood Real Estate Income Trust, Inc, a perpetual-life monthly NAV REIT sponsored by private investment firm Starwood Capital Group, updated its net asset values for its Class S, Class I, Class D and Class T shares of common stock as of August 31, 2019.
Class S shares, which are purchased through brokerage and transaction-based accounts, have a net asset value per share of approximately $21.00, which exceeded the previous net asset value of $20.93 each.
Class I shares, which are customarily sold to endowments, foundations, pension funds and other institutional investors, REIT executives, directors and their immediate family members, have an updated net asset value of $20.98 per share, which exceeded the previous net asset value of $20.91.
Class D shares have a net asset value per share of approximately $20.90 per share. These shares are sold through fee-based programs known as wrap accounts as well as participating broker-dealers, certain registered investment advisers, and bank trust departments or other organizations. This represents an increase from the previous net asset value of $20.82.
Class T shares have a per share NAV of approximately $20.84. These are typically available through brokerage and transaction-based accounts. Previously, Class T shares had a per share NAV of $20.77.
Starwood REIT’s current transaction prices for each share class of common stock for subscriptions as of October 1 or repurchases as of September 30, 2019 have been updated to Class S shares for $21.00; Class T shares for $20.84; Class D shares for $20.90; and Class I shares for $20.98.
Starwood Real Estate Income Trust Inc. invests in stabilized, income-producing real estate across the United States and Europe. The advisor for this REIT, Starwood Capital Group, has appointed Ethan Bing as a member of its investment committee.
In this new role, he will focus on investments in multiple sectors throughout the U.S., including multifamily, office, retail and student housing. As a managing director in the acquisitions group at Starwood Capital Group, he has been responsible for direct real estate asset investments, corporate acquisitions and purchases of distressed loan pools.
