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Starwood REIT Meets Less Than 50% of Redemption Requests in January

Starwood REIT Meets Less Than 50% of Redemption Requests in January. Starwood Real Estate Income Trust, real estate investment trust, REIT, alternative investments, NAV, net asset value

Starwood Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust sponsored by Starwood Capital Group, reported that its total net asset value declined in value by 0.47% month-over-month as of the close of January, declining from $10.36 billion at the close of 2023 to $10.31 billion. For the same period, the REIT only met 48% of stockholder redemption requests.

Its declared monthly NAV per share as of Jan. 31, 2024, was as follows:

Class S shares had an NAV per share of $23.14, compared to $23.08 per share the previous month, a 0.26% increase.

Class T shares had an NAV per share of $23.15, compared to $23.09 per share the previous month, a 0.26% increase.

Class D shares had an NAV per share of $22.71, compared to $22.67 per share the previous month, a 0.18% increase.

Class I shares had an NAV per share of $22.96 compared to $22.90 per share the previous month, a 0.26% increase.

In January 2024, Starwood REIT received repurchase requests totaling approximately $415 million. As per the terms of its share repurchase plan, it honored all repurchase requests for January 2024 on a pro rata basis up to the 2% monthly limitation. As such, approximately 48% of each stockholder’s January repurchase request was satisfied.

Starwood REIT is currently offering on a continuous basis up to $18 billion in shares of common stock, consisting of up to $16 billion in shares of its primary offering and up to $2 billion in shares pursuant to its distribution reinvestment plan. As of Feb. 14, 2024, Starwood REIT had issued and sold nearly 46 million shares of its common stock in the primary offering for total proceeds of approximately $1.2 billion, and  approximately 12.5 million shares of its common stock pursuant to its distribution reinvestment plan for a total value of approximately $0.3 billion.

The number of shares outstanding totaled 447.7 million as of Jan. 31, 2024, compared to 450.9 million the previous month.

Starwood Real Estate Income Trust launched in December 2017 and invests in stabilized real estate across the United States and Europe.

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