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 May 31, 2022.
Class S shares, which are purchased through brokerage and transaction-based accounts, have an NAV per share of approximately $27.58, compared to $27.50 the previous month.
Class T shares, which are typically available through brokerage and transaction-based accounts, have an NAV per share of approximately $27.59. The previous month, Class T shares were valued at $27.50.
Class D shares have a net asset value per share of approximately $27.15, compared to $27.08 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 sold to endowments, foundations, pension funds and other institutional investors, have an NAV per share of $27.41. The previous month, Class I shares had an NAV per share of $27.34.
Shares were initially priced at $20.00 each plus applicable selling commissions and fees.
Starwood REIT’s investments in real estate increased from $21.4 billion in April to $24 billion in May, while its real estate debt investments remained relatively flat at around $1.00 billion.
Cash and cash equivalents decreased from $1.67 billion to $1.22 billion month-over-month, restricted cash decreased from $585.1 million to $553.5 million, and other assets decreased from $1.07 billion to $916.5 million.
The REIT’s debt obligations increased from ($12 billion) in April to ($13.3 billion) in May, and secured financings on investments in real estate debt remained flat at ($126 million). Subscriptions received in advance decreased from ($419.7 million) in April to ($362 million) in May, and other liabilities increased from ($273.2 million) to ($299.1 million).
The REIT had nearly 486.7 million shares outstanding as of May 31, 2022, compared to 465.1 million shares the previous month.
Starwood Real Estate Income Trust invests in stabilized real estate across the United States and Europe and has raised $3.9 billion in its initial public offering from December 2017 to June 2021. Its $10 billion follow-on offering was declared effective in early June 2021 and raised $7.6 billion, as of mid-June 2022. As of May 31, 2022, the REIT’s NAV was approximately $13.4 billion.