Starwood Capital Group Closes 11th Opportunistic Real Estate Fund At $7.55B

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Apr 18, 2018, 08:30 ET

GREENWICH, Conn., April 18, 2018 /PRNewswire/ -- Starwood Capital Group, a leading global private investment firm, announced the closing of its 11th opportunistic real estate fund, Starwood Global Opportunity Fund XI (SOF XI). With capital commitments totaling $7,555,500,000, SOF XI is the Firm's largest fund in its history. Together with existing commitments to Starwood Energy Partners and Starwood Property Trust, the nation's largest commercial real estate mortgage REIT – the firm's assets under management are over $55 billion.

Barry Sternlicht, Chairman & CEO, said, "We are grateful to our longstanding and new investment partners for supporting us in our latest fund. We continue to invest prudently and will remain focused on investments with stable and growing cash yields in the US and Europe."

"We are proud of our increasingly diversified investor base of over 100 LPs, including pension, sovereign wealth fund, foundation/endowment, wealth manager, family office and high net worth investors from 30 countries within the US, Canada, Asia, the Middle East, South America and Europe. SOF XI's investment program is off to a strong start, with 17 transactions closed through the end of March, representing over $5 billion in total assets," said Lanhee Yung, Managing Director, Capital Raising & Investor Relations.

Noteworthy investments in SOF XI to date include: the privatization of Milestone, a multifamily REIT listed on the Toronto Stock Exchange, consisting of 79 communities with 24,061 units in the Sunbelt and Western US, an equity interest and pipeline in Yotel, a brand that integrates the essential elements of luxury hotels in a cleverly designed affordable space, and nearly 2 million square feet of office space in two separate transactions in the rapidly improving El Segundo submarket in Los Angeles.

About Starwood Capital Group
Starwood Capital Group is a private alternative investment firm with a core focus on global real estate, energy infrastructure and oil & gas. The Firm and its affiliates maintain 11 offices in five countries around the world, and currently have approximately 3,800 employees. Starwood Capital Group has raised $45 billion of equity capital since its inception in 1991, and currently manages approximately $56 billion in assets. The Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and changing positions in the capital stack as risk-reward dynamics evolve. Over the past 26 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises around real estate portfolios in both the private and public markets. Additional information can be found at starwoodcapital.com.

SOURCE Starwood Capital Group