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Barry Sternlicht launches Starwood Capital Group (SCG). |
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Starwood Opportunity Funds I and IA (“SOF I and IA”) close with $52M of commitments. |
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SCG participates in the IPO of Equity Residential Properties (NYSE: EQR) via a contribution of its multifamily portfolio in SOF I/IA in exchange for operating partnership units convertible to shares of EQR stock. |
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Starwood Opportunity Fund II (“SOF II”) closes with $102M of commitments. |
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SCG acquires a majority of the distressed senior debt of Hotel Investors Trust and negotiates a complete restructuring and repositioning. The firm embarked upon a series of transactions that would lead to the creation of Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT). |
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Starwood Mezzanine Investors (“SOF III”) closes with $220M of commitments. |
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SCG creates Starwood Hotels & Resorts Worldwide, Inc. and Mr. Sternlicht becomes Chairman and CEO. |
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SCG purchases Westin Hotels & Resorts from the Aoki Corporation in a partnership with Goldman Sachs & Co. and Nomura Securities. |
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Starwood Opportunity Fund IV ("SOF IV") closes with approximately $830M of commitments. |
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SCG takes its mezzanine business public by creating Starwood Financial, Inc (NYSE: SFI), which would subsequently be renamed iStar Financial and become one of the largest publicly traded finance companies focused exclusively on commercial real estate. |
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Starwood Hotels & Resorts Worldwide, Inc. acquires ITT Sheraton for $14B. |
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Starwood Opportunity Fund V (“SOF V”) closes with approximately $516M of commitments. |
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Starwood Hotels & Resorts Worldwide, Inc. is added to the S&P Index. |
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Starwood Opportunity Fund VI (“SOF VI”) closes with $567M of commitments. |
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SCG, in a joint venture partnership with Goldman Sachs, takes private National Golf Properties, Inc (NYSE: TEE), and acquires its private sister operating company for approximately $1B. |
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2004
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Barry Sternlicht and Matthew Gilman create Starwood Real Estate Securities ("SRES"), a hedge fund adviser that sponsors open-ended, long-short hedge funds. |
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Mr. Sternlicht is voted “Best Lodging CEO 2005” by Institutional Investor magazine. |
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Mr. Sternlicht returns to SCG full time as Chairman and CEO. |
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Starwood Global Opportunity Fund VII (“SOF VII”) closes with $1.475B of commitments. |
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Starwood Capital Hospitality Fund I (“Hotel I”) closes with approximately $900M of commitments. |
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Starwood, through SOF VII, Hotel I and three Co Invest Funds (“the SDL Co-Invest funds”), completes the $3.2B acquisition of Groupe Taittinger and Société du Louvre. |
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SRES launches Dirigo, L.L.C. (“Dirigo”), a long/short hedge fund that invests in a broad universe of global public real estate securities. |
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SCG forms Starwood Energy/Infrastructure Fund I (“SEIF”) with $433M of commitments. |
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Starwood Debt Fund II (“Debt II”) closes with $378M of commitments. |
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SCG creates Starwood Property Trust, Inc. (NYSE: STWD), a publicly traded real estate finance company that focuses on originating and investing in commercial mortgage loans and other commercial real estate-related debt investments. With a market capitalization of $950 million, STWD is the largest blind pool company ever created and traded on the NYSE. |
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SCG, in partnership with the FDIC and several leading private equity firms, acquires the construction loans and real estate owned (REO) assets formerly owned by Chicago-based Corus Bank for $2.77B ($4.5B face). |
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2010
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Starwood Global Opportunity Fund VIII (“SOF VIII”) closes with $1.83B of commitments. |
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Starwood Capital Global Hospitality Fund II (“Hotel II”) closes with $965M of commitments. |
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Starwood Property Trust raises $454 million through a secondary offering on the NYSE in December. |
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SCG opens its first South American office in Sao Paulo, Brazil. |
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2011
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SCG closes its office in Tokyo, Japan. |
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Starwood Property Trust raises $477 million through a secondary offering on the NYSE in May. |
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SCG opens an office in Los Angeles, CA |
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2012
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Starwood Property Trust raises $457 million through a secondary offering on the NYSE in April.
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