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Friday, January 27, 2023

Starwood limits capital withdrawals from one of its real estate funds due to additional outflows

investment firm starwood have limited capital withdrawal from one of his real estate funds because cash requests have exceeded the monthly limit. The move comes a week after Blackstone was forced to do the same with one of its real estate vehicles, giving investors a glimpse into the brick market outlook.

This is a Starwood Real Estate Income Trust (SREIT) vehicle that has $30 billion in assets under management, As per the Company’s own information. It has informed its investors that its exit requests have exceeded the monthly limit in November due to which it has not been able to meet all the requests, according to the special portal. Baron’s, This fund was raised in 2018.

Among its assets, there is the vehicle logistics warehouses, hotels and homes, As detailed in The Starwood Portfolio. The majority of these assets are in the United States, although a small portion of investments are located outside that country, in Australia, Europe, and even Spain. The Hotel Iberostar Las Dalias (in Santa Cruz de Tenerife) is part of the SREIT portfolio.

The fund’s leverage is 49%, according to the investment firm, so, discounting debt, the asset is valued at $15,000 million. Overall, the vehicle is 715 Properties. Beyond the latter, Starwood has other funds focused on the real estate sector as well. The firm has total assets under management of $125,000 million.

According to Baron’sstop it second largest The private (unlisted) real estate fund behind Blackstone Real Estate Income Trust (BREIT). The latter has total assets under management of $125 billion including loans. Excluding this, the figure is 69,000 million.

Like Blackstone’s funds, Starwood also sets monthly and quarterly outflow limits. In this case, 2% of the positions can be reversed every month and this percentage can increase up to 5% every quarter. However, these are reduced for threshold investors. both portfolios, the largest in real estate, In a sign of distrust towards the real estate market.

World Nation News Desk
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