Starwood Real Estate Income Trust, Inc., a publicly registered non-traded REIT sponsored by global real estate investment manager Starwood Capital Group, has broken escrow with approximately $165 million in proceeds for its continuous public offering of shares of common stock.
Starwood REIT is focused on acquiring a diversified portfolio of stabilized, income-producing real estate in the United States and Europe, including multifamily, office, hotel, and industrial assets, as well as other property types.
The offering is comprised of up to $4 billion of Class D, Class I, Class S and Class T shares of its common stock and $1 billion in distribution reinvestment plan shares. Shares are offered on a continuous basis at net asset value, updated monthly.
The REIT is externally managed by Starwood REIT Advisors, an affiliate of Starwood Capital, while Starwood Capital LLC serves as the dealer manager for the offering.
Class T shares, available through brokerage and transactional-based accounts, are initially priced at $20.70 each, and include a 3 percent maximum selling commission, a 0.5 percent dealer manager fee, and an annual 0.85 percent stockholder servicing fee. The stockholder servicing fee for Class T shares consists of an annual 0.65 percent advisor stockholder servicing fee and a 0.20 percent annual dealer stockholder servicing fee.
Class S shares, available through brokerage and transactional-based accounts, are initially priced at $20.70 each, and include a 3.5 percent maximum selling commission and an annual 0.85 percent stockholder servicing fee.
Class D shares, available through fee-based programs, are initially priced at $20.00 each and include an annual 0.25 percent stockholder servicing fee.
Class I shares, available through fee-based programs and to institutional investors, are initially priced at $20.00 each.
The minimum initial investment for Class T, Class S, and Class D shares is $5,000 and the minimum for Class I shares is $1 million.
For Class T, Class S and Class D shares, the stockholder servicing fee will stop being paid when total upfront selling commissions, dealer manager fees and stockholder servicing fees would exceed 8.75 percent.
Founded in 1991, Starwood Capital is a private real estate investment firm with a core focus on global real estate, energy infrastructure, and oil and gas. The company has more than $60 billion in assets under management.