Starwood Real Estate Income Trust Inc, a publicly registered non-traded real estate investment trust sponsored by Starwood Capital Group, has updated its estimated monthly net asset value per share for its classes of common stock as of August 31, 2022.
Class S shares, which are purchased through brokerage and transaction-based accounts, have an NAV per share of approximately $27.76, compared to $27.65 the previous month.
Class T shares, which are typically available through brokerage and transaction-based accounts, have an NAV per share of approximately $27.77. The previous month, Class T shares were valued at $27.65.
Class D shares have a net asset value per share of approximately $27.33, compared to $27.22 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 sold to endowments, foundations, pension funds and other institutional investors, have an NAV per share of $27.59. The previous month, Class I shares had an NAV per share of $27.47.
Shares were initially priced at $20.00 each plus applicable selling commissions and fees.
Starwood REIT’s investments in real estate increased from $25.9 billion in July to $26.4 billion in August, while its real estate debt investments decreased from $1.9 billion to $1.8 billion, month-over-month.
Cash and cash equivalents increased from $361.8 million in July to $559.8 million in August, restricted cash increased from $423.7 million to $449.6 million, and other assets increased from $864.3 million to nearly $1.1 billion.
The REIT’s debt obligations increased from ($13.8 billion) in July to ($14.3 billion) in August, and secured financings on investments in real estate debt decreased from ($650.2 million) to ($635.6 million).
Subscriptions received in advance increased from ($191.9 million) in July to ($213.1 million) in August, and other liabilities increased from ($377 million) to ($403.4 million).
The REIT had 519.3 million shares outstanding as of August 31, 2022, compared to 514.4 million shares the previous month.
Starwood Real Estate Income Trust invests in stabilized real estate across the United States and Europe and launched its initial $5 billion offering in December 2017 and raised approximately $3.9 billion from investors before closing in June 2021. The first follow-on offering, comprised of $10 billion in shares, launched immediately afterward and raised approximately $8 billion. The second follow-on offering launched in August 2022 and has raised $300.3 million. As of August 31, 2022, the REIT’s NAV was approximately $14.4 billion.