Starwood Real Estate Income Trust Inc, a perpetual-life monthly NAV REIT sponsored by private investment firm Starwood Capital Group, has updated its estimated monthly net asset value per share for its classes of common stock as of January 31, 2022.
Class S shares, which are purchased through brokerage and transaction-based accounts, have an NAV per share of approximately $26.45, compared to the previous month’s valuation of $26.09 per share.
Class T shares, which are typically available through brokerage and transaction-based accounts, have an NAV per share of approximately $26.41. The previous month, Class T shares had an NAV per share of $26.05.
Class D shares have a net asset value per share of approximately $26.03, compared to $25.68. the previous month. 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.
Class I shares, which are customarily sold to endowments, foundations, pension funds and other institutional investors, have an NAV per share of $26.30. The previous month, Class I shares had an NAV per share of $25.94.
Shares were initially priced at $20.00 each plus applicable selling commissions and fees.
Starwood REIT’s investments in real estate increased from $19.65 billion in December to $19.77 billion in January, while its real estate debt investments decreased from $954.1 million to $945.9 million.
Cash and cash equivalents increased from $271.9 million to $576.2 million, month-over-month, restricted cash decreased from $665.8 million to $611.1 million, and other assets increased from $486.6 million to $545.1 million.
The REIT’s debt obligations remained flat at ($11.3 billion). Secured financings on investments in real estate debt decreased from ($268.2 million) to ($265.7 million), subscriptions received in advance decreased from ($496.9 million) to ($453.5 million), and other liabilities decreased from ($645.8 million) to ($280.2 million).
The REIT had nearly 379.9 million shares outstanding as of January 31, 2022, compared to 346 million shares the previous month.
Last week, the REIT registered its second follow-on offering, comprised of $16 billion in shares of common stock and $2 billion in distribution reinvestment shares.
Starwood Real Estate Income Trust invests in stabilized real estate across the United States and Europe, and has raised $3.9 billion in its initial public offering from December 2017 to June 2021.
The REIT’s $10 billion follow-on offering was declared effective in early June 2021 and has raised $5.1 billion, as of mid-February 2022. As of January 31, 2022, the REIT’s aggregate NAV was approximately $10 billion.