SREIT Total Monthly NAV Declines 0.5% Month-Over-Month

The total net asset value for Starwood Real Estate Income Trust Inc. declined by almost 0.5% month-over-month, from approximately $9.58 billion on June 30, 2024, to approximately $9.53 billion as of July 31. For the second consecutive month, the real estate investment trust met 4% of each stockholder’s repurchase request.

Starwood REIT, or SREIT, is a publicly registered non-traded REIT sponsored by Starwood Capital Group.

As previously reported, SREIT lowered the capacity under its share repurchase plan beginning with May 2024 redemptions. It limited share repurchases to 0.33% of NAV per month (measured using the aggregate NAV attributable to stockholders as of the end of the immediately preceding month).

As such, approximately 3% of each stockholder’s May repurchase request was satisfied, followed by June’s 4%. In July 2024, when SREIT further limited share repurchases to 1% of NAV per quarter, approximately 4% of each stockholder’s repurchase request was satisfied.

The REIT also repurchased all of the shares from stockholders that held less than $500 in shares of common stock. As such, it exceeded the 0.33% monthly limitation by $18,093, as authorized by SREIT’s board of directors.

Its declared monthly NAV per share as of July 31, 2024, was as follows:

Class S shares had a NAV per share of $22.58, compared to $22.67 per share the previous month, an approximate 0.39% decrease.

Class T shares had a NAV per share of $22.59, compared to $22.69 per share the previous month, an approximate 0.44% decrease.

Class D shares had a NAV per share of $22.15, compared to $22.24 per share the previous month, an approximate 0.41% decrease.

Class I shares had a NAV per share of $22.40 compared to $22.49 per share the previous month, an approximate 0.40% decrease.

Starwood REIT is currently offering on a continuous basis up to $18 billion in shares of common stock, consisting of up to $16 billion in shares of its primary offering and up to $2 billion in shares pursuant to its distribution reinvestment plan. As of Aug. 16, Starwood REIT had issued and sold nearly 48.6 million shares of its common stock in the primary offering for total proceeds of approximately $1.3 billion, and approximately 16.3 million shares of its common stock pursuant to its distribution reinvestment plan for a total value of approximately $0.4 billion.

The number of shares outstanding totaled about 424.3 million as of July 31, compared to 424.6 million the previous month.

Starwood Real Estate Income Trust launched in December 2017 and invests in stabilized real estate across the United States and Europe.

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