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Starwood REIT Appoints New Sub-Advisor for Securities Portfolio

Starwood Real Estate Income Trust, Inc, a perpetual-life monthly NAV REIT sponsored by private investment firm Starwood Capital Group, has reported that its advisor, Starwood REIT Advisors, has named a new sub-advisor.

Starwood Real Estate Income Trust, Inc, a perpetual-life monthly NAV REIT sponsored by private investment firm Starwood Capital Group, has reported that its advisor, Starwood REIT Advisors, has named a new sub-advisor to act as the investment manager for its portfolio of real estate-related securities.

Starwood REIT Advisors terminated its investment management agreement with BlackRock Financial Management Inc. and entered into a discretionary sub-advisory agreement with Goldman Sachs Asset Management L.P., which oversaw more than $2 trillion in assets under supervision worldwide, as of the second quarter of 2021.

Around September 2, 2021, Goldman Sachs will take over as sub-advisor to Starwood REIT Advisors and act as the investment manager for its portfolio of real estate-related securities and other investments. Real estate-related securities may comprise up to 20 percent of the REIT’s assets.

In other company news, Starwood REIT recently disclosed its monthly net asset value per share for July 2021.

Starwood REIT, which invests in stabilized real estate across the United States and Europe, raised $3.9 billion in its initial public offering from December 2017 to June 2021. Its $10 billion follow-on offering was declared effective in early June 2021 and raised $1.1 billion, as of mid-August 2021. As of July 31, 2021, the REIT’s aggregate NAV was $4.7 billion. Starwood REIT’s real estate investments totaled $8.1 billion as of July 2021, and its real estate debt investments totaled $983 million.

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