Starwood REIT Increases Monthly NAV Per Share
Starwood Real Estate Income Trust, Inc, a perpetual-life monthly NAV REIT sponsored by private investment firm Starwood Capital Group, updated its monthly net asset values per share for Class S, Class I, Class D and Class T shares of common stock as of May 31, 2020.
Starwood Real Estate Income Trust, Inc, a perpetual-life monthly NAV REIT sponsored by private investment firm Starwood Capital Group, updated its monthly net asset values per share for Class S, Class I, Class D and Class T shares of common stock as of May 31, 2020.
Class S shares, which are purchased through brokerage and transaction-based accounts, have a NAV per share of approximately $21.27, compared to the previous month’s valuation of $21.26 per share.
Class T shares, which are typically available through brokerage and transaction-based accounts, have a NAV per share of approximately $21.14. Last month, Class T shares had a NAV per share of $21.12.
Class D shares have a net asset value per share of approximately $21.17. 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. Last month, Class D shares had a NAV per share of $21.16.
Class I shares, which are customarily sold to endowments, foundations, pension funds and other institutional investors, have a NAV per share of $21.23. Last month, Class I shares had a NAV per share of $21.22.
Shares were initially priced at $20.00 each plus applicable selling commissions and fees.
“As of June 10, 2020, rent collections are slightly ahead of where they were on the same date in May 2020 and month-to-date hotel occupancies are up 6 percent to 32 percent. This gives us continued optimism in the strength of our portfolio,” the REIT said in a filing with the Securities and Exchange Commission.
As of May 31, 2020, the REIT collected approximately 97 percent of its rents for the month, the same percentage as April 2020.
Starwood Real Estate Income Trust Inc., which invests in stabilized real estate across the United States and Europe, broke escrow in December 2018 and raised $1.4 billion in investor equity as of May 2020. As of March 31, 2020, the company owned 93 investments in real estate ($3.5 billion) and had 84 positions in real estate-related securities ($280.8 million).
