Barry Sternlicht, the head of real estate investment firm Starwood Capital Group LLC, said there is an abundance of credit available, disputing a comment made by former U.S. Treasury Secretary Lawrence Summers about banks needing to do more lending to stimulate the economy.
Starwood Capital Group, a real estate investing firm led by Barry Sternlicht, acquired seven Swedish shopping centers from a unit of Kooperativa Forbundet for about 3.9 billion Swedish krona ($590 million).
Gibson, Dunn & Crutcher LLP counseled Tri Pointe Homes Inc., a developer backed by investor Barry Sternlicht, in its deal to buy Weyerhaeuser Co.’s residential real estate unit in a transaction valued at about $2.7 billion.
Starwood Property Trust Inc., a real estate investment trust with access to capital, lacked in-house management for its single-family rental homes. Waypoint Real Estate Group, one of the first large rental-house investors, was stymied this year when it tried raise money by going public. Now the two companies are getting together.
Starwood Property Trust Inc. said it will spin off its single-family rental-home unit into a real estate investment trust headed by Waypoint Real Estate Group’s management division, which is being acquired in the deal.
The owners of Heron Tower, one of the City of London financial district’s tallest skyscrapers, reached a 370 million-pound ($600 million) refinancing deal that includes a new loan from Starwood Capital Group LLC, a person with knowledge of 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.