Barry Sternlicht, chairman and chief executive officer of Starwood Capital Group LLC, has spoken to banks as he prepares to sell shares of the property-investment firm to investors, a person familiar with the matter said.
Starwood Capital Group LLC, the investment firm led by Barry Sternlicht, bought nine U.S. office buildings for $260.5 million to gain income-producing properties in markets with job growth and limited new supply.
Barry Sternlicht, the Starwood Capital Group LLC founder who got his start buying distressed apartments in the early 1990s during the savings-and-loan crisis, is hedging his bets on apartments as a recovering homebuying market limits rent and occupancy growth.
The House of Electro-Technology stretches like a felled skyscraper along the northern edge of Berlin’s Alexanderplatz, limiting views and impeding traffic in the heart of the German capital. The shopworn relic of the former East Germany, an assembly of pre-fabricated glass and aluminum squares, has been called clunky and dehumanizing. Its owners say it’s outdated and should be replaced. Christine Edmaier wants to save it.