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Our Firm's History

Starwood Capital Group was founded by Barry Sternlicht in 1991, at the depths of the savings and loan crisis. In the 34 years since its inception, the firm has raised over $90 billion of capital, and invested in excess of $280 billion of assets, including properties within every major real estate asset class.

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Global Reach

Starwood Capital Group has invested in more than 35 countries.

Starwood Capital, its affiliates and externally managed public companies, employ approximately 7,000 employees across 21 offices in 9 countries.

SCG History

1991

Barry Sternlicht launches Starwood Capital Group

1992

Starwood Opportunity Funds I and IA (SOF I and IA) close at $52M

1993

SOF I/IA contribute the majority of their multifamily portfolio to Equity Residential (NYSE: EQR)—which goes on to become the largest publicly traded apartment owner in the U.S., with Mr. Sternlicht serving on its Board of Directors

Starwood Opportunity Fund II (SOF II) closes at $102M

1994

Starwood Capital, via an affiliate, acquires a majority of the distressed senior debt of Hotel Investors Trust, thus setting the stage for the Firm’s emergence as a global leader in the hospitality space

Starwood Mezzanine (SOF III) Investors closes at $220M

1995

Starwood Capital creates Starwood Hotels & Resorts Worldwide (NYSE: HOT) and Mr. Sternlicht becomes Chairman and CEO

Starwood Capital purchases Westin Hotels & Resorts and begins a new growth phase for the business

1997

Starwood Opportunity Fund IV (SOF IV) closes at $830M

1998

Starwood Capital creates Starwood Financial, subsequently renamed iStar Financial (NYSE: STAR), which becomes one of the largest publicly traded real estate finance companies in the U.S.

Starwood Hotels & Resorts Worldwide completes the $14B acquisition of ITT Sheraton, making the company the largest hotel operator in the world

First W Hotel opens in New York

1999

Starwood Opportunity Fund V closes at $516M

Starwood Capital makes its first non-hotel investments in Europe (London) and in Asia (Japan and Thailand)

2000

Starwood Hotels & Resorts Worldwide is added to the S&P 500 Index

2002

Starwood Opportunity Fund VI (SOF VI) closes at $567M

2003

Starwood Capital, via an affiliate, takes National Golf Properties (NYSE: TEE) private

Starwood Capital opens an office in London—marking the beginning of the Firm’s significant expansion of the Firm’s international operations that also includes a Luxembourg hub with responsibility for all European investments in Starwood Capital funds

2005

Mr. Sternlicht returns to Starwood Capital full time as Chairman and CEO

Starwood Capital Hospitality Fund I (Hotel I) closes at approximately $900M

Starwood Capital funds complete the $3.2B acquisition of Groupe Taittinger and Société du Louvre

Starwood Global Opportunity Fund VII (SOF VII) closes at $1.475B

2006

Starwood Capital sells Taittinger champagne company, which was part of the Groupe Taittinger/Société du Louvre acquisition

2008

Starwood Energy Infrastructure Fund (SEIF I) closes at $433M

The Visionaire, developed by Starwood Capital via an affiliate, becomes Manhattan’s first Platinum LEED-certified condominium project

Starwood Capital, via an affiliate, launches Starwood Land Ventures, which goes on to become one of the leading providers of residential sites to the U.S. homebuilding industry

2009

Starwood Debt Fund II closes at $378M

Starwood Capital creates Starwood Property Trust (NYSE: STWD), a leading diversified finance company that is the largest blind pool company ever listed on the NYSE

Starwood Capital leads a consortium in acquiring Corus Bank’s $4.5B face-value loan portfolio from the FDIC in one of the government’s largest distressed debt transactions during the Great Recession

2010

Starwood Global Opportunity Fund VIII (SOF VIII) closes at $1.83B

Starwood Capital Global Hospitality Fund II (Hotel II) closes at $965M

2011

Starwood Energy Group, via an affiliate, completes the Starwood SSM Project—one of the largest solar power plants in Canada

Starwood Capital, via an affiliate, makes the first in a series of acquisitions that will establish the Firm as one of the largest operators of select-service and extended-stay hotels in the U.S.

2012

Starwood Capital affiliate Starwood European Real Estate Finance (LSE: SWEF) goes public

2013

SOF VIII’s TRI Pointe Homes (NYSE: TPH) goes public and is later combined with a Weyerhaeuser subsidiary to create one of the largest homebuilders in the U.S.

Starwood Capital funds acquire Principal Hayley, which the Firm subsequently merges with Four Pillars and De Vere Ventures to create a leading U.K. hotel platform

Starwood Capital, via an affiliate, and Starwood Property Trust acquire LNR Property LLC (along with subsidiary Hatfield Philips International) for $1.05B, thus expanding the Firm’s distressed real estate expertise

Starwood Distressed Opportunity Fund IX (SOF IX) closes at $4.2B

Starwood Energy Infrastructure Fund II (SEIF II) closes at $983M

2014

Starwood Waypoint Residential Trust (NYSE: SWAY), one of the largest owners of single-family rental homes in the U.S., goes public

Starwood Capital leads a consortium to take public Opus Bank (NASDAQ: OPB), a leading regional real estate lender

A Starwood Capital fund acquires a diverse portfolio of assets in Sweden and Norway for $1.4B—the largest property transaction in Scandinavia for the year

2015

Starwood Global Opportunity Fund X (SOF X) closes at $5.6B

Starwood Capital launches 1 Hotels and Baccarat Hotels & Resorts brands

Starwood Capital funds acquire TMI Hospitality, one of the largest owners, managers and developers of select-service hotels in the U.S.

2016

Starwood Capital funds acquire a portfolio of apartments in the United States from Equity Residential in a transaction valued at $5.4B

One of China’s largest life insurance companies, along with some major sovereign wealth funds and insurance companies, invest with Starwood Capital in approximately $3.3B of U.S. select-service hotels

2017

Starwood Capital funds acquire Milestone Apartments REIT

Starwood Waypoint Residential Trust merges with Invitation Homes, creating the largest single-family landlord in the U.S.

Starwood Capital acquires a multifamily property management company, now named Highmark Residential

2018

Starwood Global Opportunity Fund XI (SOF XI) closes at $7.56B

Starwood Energy Infrastructure Fund III (SEIF III) closes at $1.2B

Launched Starwood Real Estate Income Trust (SREIT), a non-listed NAV REIT

Starwood Property Trust acquires GE Capital’s infrastructure finance division, now known as Starwood Infrastructure Finance

2019

Launched Treehouse Hotels brand

Starwood Opportunity Zone Fund I closes at $304M

Starwood acquires and begins development of its first large-scale data center campus, Renaissance Technology Park, establishing the foundation for Starwood Digital Ventures

2020

Starwood Distressed Special Situations Co-Investment closes at ~$700M

Starwood Capital Group purchases carbon offsets for the first time

2021

Starwood Distressed Opportunity Fund XII (SOF XII) closes at $10B

Starwood Capital funds complete the take-private of Extended Stay America, a leading owner and operator of economy extended-stay hotels, in a 50/50 JV for an aggregate purchase price of $6.3B

Starwood Capital funds complete the take-private of RDI REIT—a public company with a $1.3B portfolio anchored by high-quality industrial and logistics assets in Europe

Starwood European Real Estate Debt Fund I closed at £262M—created to capitalize on the dislocated real estate financing market in Europe

2022

A Starwood Capital fund sold InTown Suites for a gross sale price in excess of $2B ($88K per key) to a combination of new investors and a Starwood Capital Continuation Fund

2024

Following five years of data center investing, established Starwood Digital Ventures, an in-house platform dedicated to our firm’s global data center investment strategy

Recapitalization of Echelon Data Centres, a leading European developer and operator of hyperscale data centers, in a transaction valuing the business’s equity at €900M

Take-private of Balanced Commercial Property Trust, a U.K. REIT with a $1.2B enterprise value anchored by a prime logistics portfolio and St Christopher’s Place, a freehold estate in the West End of London

2025

Starwood Real Estate Debt Strategies U.S. and Starwood European Real Estate Debt Finance II close with total capital commitments of ~$2.7 billion (including related co-investment vehicles)

Starwood Capital funds, with a consortium of other investors, complete the take-private of ESR Group, a leading Asia-Pacific owner, developer, and manager of logistics and data center assets

2026

Starwood Distressed Opportunity Fund XIII (SOF XIII) closes at ~$10.2B