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Starwood Capital Smashes Record with $10B-Plus Fundraise

Starwood Capital Group said Friday it had closed its latest opportunistic real estate fund, Starwood Distressed Opportunity Fund XII (SOF XII), at north of $10 billion. The capital raise exceeded the $7.6 billion garnered by the fund’s predecessor, SOF XI.  

“We are grateful to our new and longtime partners for the trust they continue to place in us as we complete the largest fundraise in Starwood Capital’s history,” said Barry Sternlicht, chairman and CEO of Starwood Capital.  

He continued, “Our sourcing capabilities continue to yield a robust pipeline of investment opportunities, and our market expertise around the globe continues to generate attractive returns for investors. SOF XII is off to an excellent start and we are confident it will continue our tradition of finding valuable investments with over 35% of the fund deployed in closed and approved transactions.” 

Starwood Capital affiliates have already closed or committed to 25 transactions in SOF XII, spanning four continents and requiring more than $3.5 billion of equity.  

Noteworthy investments through the fund have included a U.S. single-family rental home platform that has acquired more than 4,500 homes; the privatization of Extended Stay America; the privatization of RDI REIT, a UK listed company with a large real estate portfolio anchored by high-quality industrial and logistics assets in Europe; and a portfolio of well-located office properties in Tokyo acquired on an off-market basis during pandemic uncertainty. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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