Skip to content

Starwood REIT Reports Monthly NAV Per Share and Acquisition Pipeline Update

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 October 31, 2021.

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 October 31, 2021.

Class S shares, which are purchased through brokerage and transaction-based accounts, have an NAV per share of approximately $24.93, compared to the previous month’s valuation of $24.48 per share.

Class T shares, which are typically available through brokerage and transaction-based accounts, have an NAV per share of approximately $24.86. The previous month, Class T shares had an NAV per share of $24.40.

Class D shares have a net asset value per share of approximately $24.50, compared to $24.03. 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 $24.83. The previous month, Class I shares had an NAV per share of $24.40.

Shares were initially priced at $20.00 each plus applicable selling commissions and fees.

Starwood REIT said that in the last 30 days, it closed on six investments totaling just under $5.5 billion. It currently has 12 acquisitions under contract or exclusivity totaling $3.9 billion, which are expected to close over the next 60 days. The REIT remains “oriented” towards residential (multifamily and single-family residences) and industrial, which represent 78 percent of its pipeline.

“We continue to favor the residential sector due its short duration lease profile and natural inflation hedge,” said Starwood REIT “After factoring in our recently closed investments, as well as our pipeline, we will own close to 53,000 apartment units and 2,600 SFR homes with approximately 72 percent allocated to these two sectors by the end of the year.”

The REIT said that it continues to see strong performance across its existing multifamily portfolio. As of the end of October, it experienced “accelerating rent growth” of 18.4 percent year-over-year on new leases and 11.8 percent rent growth on combined new and renewal leases over the trailing 30 days.

Starwood REIT’s investments in real estate increased from $10.4 billion in September to $10.7 billion in October, while its real estate debt investments increased from $964.1 million to $968.4 million.

Cash and cash equivalents increased from $671.7 million to $1.2 billion, month-over-month, restricted cash decreased from $562.6 million to $537.5 million, and other assets increased from $488.3 million to $533.6 million.

The REIT’s debt obligations increased from ($5.76 billion) in September to ($5.90 billion) in October. Secured financings on investments in real estate debt increased from ($134.8 million) to ($137.4 million), subscriptions received in advance decreased from ($476.5 million) to ($446.7 million), and other liabilities increased from ($176.2 million) to ($190.2 million).

The REIT had nearly 287.3 million shares outstanding as of October 31, 2021, compared to 260.5 million shares the previous month.

Starwood Real Estate Income Trust Inc., which invests in stabilized real estate across the United States and Europe, 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 $3 billion, as of mid-November 2021. As of October 31, 2021, the REIT’s aggregate NAV was $7.1 billion.

Click here to visit The DI Wire directory page.