Home News Starwood REIT Reports Monthly NAV Per Share

Starwood REIT Reports Monthly NAV Per Share

Starwood Real Estate Income Trust updated its monthly net asset value per share for its classes of common stock as of June 30, 2021.

Starwood Real Estate Income Trust, Inc, a perpetual-life monthly NAV REIT sponsored by private investment firm Starwood Capital Group, has updated its monthly net asset value per share for its classes of common stock as of June 30, 2021.

In a filing with the Securities and Exchange Commission, the REIT noted that it has exceeded $9.3 billion in assets under management and purchased $3.1 billion of real estate in the first six months of the year.

Approximately 80 percent of its property investments were made in the multifamily (47 percent) and industrial (33 percent) sectors; and 83 percent of its property investments were made off-market. The remaining 17 percent were completed in small auction processes, i.e. not widely marketed, the REIT said.

Class S shares, which are purchased through brokerage and transaction-based accounts, have an NAV per share of approximately $22.57, compared to the previous month’s valuation of $22.40 per share.

Class T shares, which are typically available through brokerage and transaction-based accounts, have an NAV per share of approximately $22.46. The previous month, Class T shares had an NAV per share of $22.30.

Class D shares have a net asset value per share of approximately $22.42. 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. The previous month, Class D shares had an NAV per share of $22.27.

Class I shares, which are customarily sold to endowments, foundations, pension funds and other institutional investors, have an NAV per share of $22.51. The previous month, Class I shares had an NAV per share of $22.35.

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

As of June 30, 2021, Starwood REIT’s investments in real estate totaled $7.8 billion and its real estate debt investments totaled $980.4 million. Cash and cash equivalents equaled $455.4 million, restricted cash totaled $458.2 million, and other assets totaled $185.2 million. The REIT had approximately ($4.8 billion) in debt obligations. Secured financings on investments in real estate debt totaled ($138.1 million), subscriptions received in advance equaled nearly ($346.6 million), and other liabilities totaled ($428.2 million). The REIT had 182.6 million shares outstanding, as of June 30, 2021.

As of May 31, 2021, Starwood REIT’s investments in real estate totaled $6.5 billion and its real estate debt investments totaled $699.6 million. Cash and cash equivalents equaled $458.9 million, restricted cash totaled $383.7 million, and other assets totaled $61.4 million. The REIT had approximately ($3.9 billion) in debt obligations. Secured financings on investments in real estate debt totaled ($142.2 million), subscriptions received in advance equaled nearly ($317.1 million), and other liabilities totaled ($118.8 million). The REIT had 159.2 million shares outstanding, as of May 31, 2021.

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.

Starwood REIT’s $10 billion follow-on offering was declared effective in early June 2021 and has raised $500 million, as of mid-July 2021. As of June 30, 2021, the REIT’s aggregate NAV was $4.1 billion.

Click here to visit The DI Wire directory page.