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Starwood Real Estate Income Trust, Inc.
Starwood Real Estate Income Trust, non-traded REIT managed by Barry Sternlicht's Starwood Capital, invests in stabilized U.S.
Starwood Real Estate Income Trust, Inc.
Starwood Real Estate Income Trust, Inc. (SREIT) is a non-traded real estate investment trust sponsored by Starwood Capital Group, the global private investment firm founded by Barry Sternlicht in 1991. Sternlicht, also known for creating Starwood Hotels & Resorts, launched SREIT to provide individual accredited investors access to institutional-quality commercial real estate with monthly income distributions — a structure that avoids the volatility of publicly traded REITs. SREIT targets stabilized income-producing properties across three primary asset classes: multifamily rental housing, industrial/logistics facilities, and select office assets in high-barrier-to-entry U.S. markets. The trust's investment strategy emphasizes Class A and Class B assets in Sunbelt regions such as Texas, Florida, and the Southeast, with a focus on properties that generate consistent cash flow from long-term leases. The portfolio includes properties like the Alta Midtown multifamily complex in Atlanta and the Gateway Corporate Center industrial park in Phoenix. The trust, registered with the SEC and making periodic public filings, had raised over $14 billion in equity from institutional and individual investors through 2024, according to its public filings. The firm's professionals number over 100, though the exact count for SREIT is not separately disclosed. Starwood Capital Group also manages Starwood Capital, a global real estate private equity platform, and maintains other vehicles including Starwood Property Trust, a publicly traded mortgage REIT. In early 2025, SREIT continued its acquisition pace, closing on a $350 million multifamily portfolio in Dallas-Fort Worth. SREIT's structural differentiator is its non-traded format, which allows it to avoid the market-driven redemptions and NAV volatility of public REITs while still providing liquidity through periodic share repurchase programs. This model enables a long-term, relationship-focused investment approach with lower trading costs and a stable capital base.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Miami Beach
Corporate office
Miami Beach, FL, United States
Principals
Barry Sternlicht
Chairman and CEO, Starwood Capital Group
Jeffrey DiModica
President, Starwood Real Estate Income Trust
Sector focus
Frequently asked questions
Who oversees investment decisions at Starwood Real Estate Income Trust?
Investment decisions are overseen by Starwood Capital Group, with Barry Sternlicht serving as Chairman and CEO of the sponsor. Jeffrey DiModica is president of the trust, managing daily operations and acquisition strategy. The trust's advisory committee includes senior professionals from Starwood Capital, and all major investments are reviewed by the board of directors, which includes independent members.
How does Starwood Real Estate Income Trust source its real estate deals?
SREIT sources deals primarily through Starwood Capital Group's extensive network of real estate brokers, developers, and operators across the U.S. Starwood Capital has over 30 years of relationships in commercial real estate, including direct sourcing from institutional sellers like pension funds and life insurance companies. The trust also benefits from proprietary off-market opportunities through Starwood Capital's existing portfolio companies and operating partners.
Is Starwood Real Estate Income Trust structured as a single-family office or a REIT?
SREIT is structured as a non-traded real estate investment trust, publicly registered with the SEC, not a family office. It is sponsored by Starwood Capital Group, a private investment firm founded by Barry Sternlicht, but the trust itself is a separate legal entity designed to pool capital from accredited investors and institutions. It is not a single-family or multi-family office.
What investment stages does Starwood Real Estate Income Trust typically target?
SREIT focuses on stabilized income-producing properties rather than development or value-add plays. The trust targets fully leased or near-fully leased assets with long-term in-place cash flows, primarily in multifamily and industrial sectors. Deals typically involve properties with 95%+ occupancy and leases of five to ten years, ensuring predictable monthly distributions to shareholders.
Does Starwood Real Estate Income Trust participate in direct deals or only fund commitments?
SREIT invests directly in commercial real estate properties through wholly owned acquisitions and joint ventures. It does not commit capital to other funds. The trust's strategy is to acquire and hold direct property interests, not to participate as a limited partner in third-party funds. This direct ownership model allows SREIT to control asset management and leasing decisions.
How does Starwood Real Estate Income Trust provide liquidity to investors?
Unlike public REITs, SREIT does not trade on an exchange. Instead, it offers periodic share repurchase programs, typically on a monthly or quarterly basis, that allow investors to sell shares back to the trust at the current net asset value (NAV). The repurchase program is subject to limits — the trust may cap redemptions at 5% of NAV per quarter — to maintain liquidity for continuing operations.
Which sectors does Starwood Real Estate Income Trust explicitly avoid?
SREIT avoids hospitality, retail, and office assets with significant short-term leases or high tenant turnover. The trust does not invest in development projects, ground-up construction, or land, as these carry execution risk and no immediate cash flow. It also avoids single-tenant properties with credit risk tied to one lessor, preferring multi-tenant assets with diversified rent rolls.
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