- Reuters
UPDATE 1-Starwood REIT taps credit line as it faces withdrawal requests
Starwood Real Estate Income Trust has drawn nearly $1.3 billion from its $1.55 billion line of credit, its recent regulatory filing showed, as it fields withdrawal requests from investors worried about the troubles in the real estate sector. Run by Barry Sternlicht-led Starwood Capital Group, the $10 billion fund invests in real estate including multi-family and industrial properties, some of which have been battered by high interest rates and fears of loan defaults. Turmoil in the real estate industry has also hit regional banks like New York Community Bancorp, whose shares have lost nearly 65% since it reported a surprise quarterly loss due to its exposure to commercial real estate.
- Zacks
Is Most-Watched Stock Marriott International, Inc. (MAR) Worth Betting on Now?
Recently, Zacks.com users have been paying close attention to Marriott (MAR). This makes it worthwhile to examine what the stock has in store.
- Reuters
Starwood's property fund taps credit line as investors pull cash, FT reports
Starwood Real Estate Investment Trust is running low on liquidity as spooked investors pull money amid rising debt costs and fears over real estate valuations, the Financial Times reported on Thursday. The Starwood Trust, owned by private real estate investor Starwood Capital Group, has borrowed more than $1.3 billion from its $1.55 billion unsecured credit facility since the beginning of 2023 due to high redemption demands, according to the report. Starwood Capital did not immediately respond to a Reuters request for comment.
