Barry Sternlicht, chairman and chief executive officer of Starwood Capital Group LLC, said he is exploring the sale of a stake in his property-investment firm to raise cash and finance new businesses.
Barry Sternlicht, chief executive officer of Starwood Capital Group LLC, said investors still have to prove they can efficiently manage scattered rental houses as they expand in a competitive market.
Starwood Capital Group, the investment firm run by Barry Sternlicht, agreed to buy seven U.S. malls from Taubman Centers Inc. for about $1.4 billion to expand its retail holdings.
"On behalf of all of us at Robin Hood, I'd like to express our gratitude to Steve for his decade of service, particularly with his work on behalf of veterans."
- Barry Sternlicht on May 01, 2014