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Starwood Capital Looks to Offload $1B of Single-Family Rentals 

Starwood Capital Group is exploring the sale of two portfolios of single-family rental homes, seeking to unload roughly 3,000 properties as the U.S. housing market cools, Bloomberg News reported Friday. 

Starwood, led by Barry Sternlicht, is working with advisers on the potential sales, each of which is expected to fetch around $500 million, said Bloomberg. Many of the properties are in the South. 

One of the largest apartment owners in the U.S., Starwood was an aggressive buyer of rental houses during the first two years of the pandemic. In May, Sternlicht told Bloomberg that his firm owned roughly 15,000 single-family rentals and 100,000 apartments, arguing that rising mortgage rates would create more demand for rental housing. 

However, rising borrowing costs have also tempered investor appetites. Still, some property firms see opportunities on the horizon, readying capital in hopes of buying at discount, reported Bloomberg. 

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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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