Reported 6 months ago
Starwood Real Estate Income Trust, a $10 billion REIT managed by billionaire Barry Sternlicht, is facing challenges as investors seek to pull their money out amid lingering real estate market struggles. To preserve liquidity and avoid asset sales at low prices, the trust has tightened limits on shareholder withdrawals, reducing monthly redemptions to 0.33% of net asset value. Sternlicht believes the real estate market will rebound, but with only $752 million in available liquidity by April, the trust had to take action to prevent further outflows and asset sales in the current challenging market conditions.
Source: YAHOO