Starwood Capital Group has announced the final closing of its latest opportunistic real estate fund, Starwood Distressed Opportunity Fund XIII, with capital commitments in excess of $10.2 billion. Together with existing commitments to Starwood Capital’s other investment vehicles, the firm’s assets under management now total approximately $130 billion.
SOF XIII will continue to focus on real assets globally, with the flexibility to shift between asset classes, geographies and positions in the capital stack. SOF XIII will primarily target transactions across the United States and Europe, with selective opportunities in Asia Pacific, and a focus on a strategic mix of residential, data center, industrial and hospitality assets.
Barry Sternlicht, Chairman and CEO of Starwood Capital, said, “We are excited about the opportunities we have already sourced for this fund and are proud of our track record of delivering results for our investors through market cycles. With our scale, resources and breadth of talent, we are well-positioned to execute on opportunities in this compelling environment for real estate.”
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