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Starwood Closes $7.6B Fund, Largest in Firm History
Greenwich, CT-based Starwood Capital Group closed its 11th opportunistic real estate fund, Starwood Global Opportunity Fund XI (SOF XI). With capital commitments totaling $7.56 billion, SOF XI is the firm’s largest fund in its history.
Starwood’s Barry Sternlicht says, “We are grateful to our longstanding and new investment partners for supporting us in our latest fund. We continue to invest prudently, and will remain focused on investments with stable and growing cash yields in the U.S. and Europe.”
SOF XI’s investment program has already closed 17 transactions, representing more than $5 billion in total assets, noted the firm’s Lanhee Yung. Investments in SOF XI include: the privatization of multifamily REIT Milestone, consisting of 79 communities with 24,061 units in the Sunbelt and Western U.S.; an equity interest and pipeline in Yotel; and nearly two million square feet of office space in two separate transactions in El Segundo, CA.
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