Starwood REIT Increases Selling Commissions for Class D Shares
Starwood Real Estate Income Trust Inc, a perpetual-life monthly NAV REIT sponsored by private investment firm Starwood Capital Group, has amended its dealer manager agreement with Starwood Capital LLC to increase the upfront selling commissions.
Starwood Real Estate Income Trust Inc, a perpetual-life monthly NAV REIT sponsored by private investment firm Starwood Capital Group, has amended its dealer manager agreement with Starwood Capital LLC to increase the upfront selling commissions for the REIT’s Class D shares.
Previously, no upfront selling commissions were paid with respect to purchases of Class D Shares. Per the amended agreement, the dealer manager is entitled to receive upfront selling commissions of up to 1.5 percent of the transaction price of each Class D Share sold in the primary portion of the public offering.
Class D shares, available through certain fee-based programs, were priced to the public at $21.82 each, as of February 1, 2020, and also have an annual 0.25 percent stockholder servicing fee.
Class D shares had a net asset value per share of $21.50 as of December 31, 2019. The offering price is generally equal to the prior month’s NAV per share, plus upfront selling commissions and dealer manager fees.
The REIT also offers Class T, Class S, and Class I shares of common stock in its public offering.
Starwood Real Estate Income Trust Inc. invests in stabilized real estate across the United States and Europe. The REIT broke escrow in December 2018 and raised $615.6 million in investor equity as of the third quarter of 2019. The REIT’s real estate portfolio totals $792 million across 27 properties, and the company had $269.2 million invested in 87 positions in real estate-related securities.
Starwood Capital Group is a private investment firm with a core focus on global real estate, energy infrastructure, and oil and gas, and since its inception in 1991, has raised $45 billion of equity capital. The firm has in excess of $60 billion of assets under management.
