Starwood REIT Reports 1% NAV Decline

Starwood Real Estate Income Trust reported a 1.03% decrease in its August NAV to $9.43 billion, while continuing its limited share repurchase program and raising $1.3 billion through its primary offering.

September 19, 2024

Starwood Real Estate Income Trust Inc. (SREIT) reported a 1.03% decline in its total net asset value (NAV), dropping from $9.53 billion on July 31, 2024, to $9.43 billion as of August 31, 2024. In August, SREIT fulfilled 4% of each stockholder's repurchase request as part of its limited share repurchase program.

SREIT had previously adjusted its share repurchase plan in May 2024, limiting repurchases to 0.33% of NAV per month and 1% per quarter, leading to partial satisfaction of repurchase requests in recent months. The REIT also repurchased all shares held by stockholders with less than $500 in holdings, exceeding the monthly limitation slightly.

NAV per share across various classes also declined in August: Class S shares fell by 0.97%, Class T by 0.93%, Class D by 0.99%, and Class I by 0.98%.

SREIT continues its offering of up to $18 billion in common stock, including $16 billion in its primary offering and $2 billion through its distribution reinvestment plan. As of September 16, SREIT had raised approximately $1.3 billion from its primary offering and $0.4 billion through reinvestment.

Launched in 2017, SREIT invests in stabilized real estate across the U.S. and Europe.