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.
Louvre Hotels Group, a unit of Starwood Capital Group LLC, will open as many as 16 hotels in Africa this year, including its first in French-speaking sub- Saharan countries, as business travel fuels the lodging growth.
The largest auction of troubled assets in the commercial mortgage-backed securities market is showing the strength of investors’ appetites for real estate as more distressed properties from the crash come up for sale.
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.
As they marketed one of the biggest commercial-mortgage bond deals ever in June 2007, just as credit markets began to crumble, bankers at Goldman Sachs Group Inc. and Royal Bank of Scotland Group Plc handed out T-shirts depicting a glass it declared “half full.”