CEO Barry Sternlicht Founded 1991 | Founder Barry Sternlicht | |
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Services hotels, retail, commercial lending Website www.starwoodcapital.com Headquarters Greenwich, Connecticut, United States Subsidiaries Principal Hotel Company, Four-Pillars Hotels Managing directors Laura M. Rubin (Head Of Portfolio Management) COO Tom Bowers, Adam Shah (Europe) | ||
Barry sternlicht ceo starwood capital group on bloomberg tv business election 2012
Starwood Capital Group is an American private investment firm headquartered in Greenwich, Connecticut. The businesses owned by the firm include Starwood Property Trust, Inc., Starwood Energy Group Global, L.L.C., Starwood Real Estate Securities, L.L.C., and SH Group. It was co-founded by Barry Sternlicht and Robert Faith in 1991.
In 2000, Starwood Capital exited its investment in Starwood Hotels & Resorts, Inc. In 2003, the company exited its investment in iStar Financial, Inc.
In 2005, it acquired Groupe du Louvre, which owns crystal maker Baccarat.
In 2009, a consortium led by Starwood Capital bought 40 percent of the loan portfolio of Corus Bank, a failed company. In 2010 Starwood Capital Group lost an auction to buy Extended Stay Hotels to Centerbridge Partners. Starwood filed an objection against the sale to Centerbridge with the bankruptcy court in Manhattan.
On July 12, 2010, Riviera Holdings – owners of the Riviera hotel and casino in Las Vegas, Nevada; and Riviera Black Hawk in Black Hawk, Colorado – filed a Chapter 11 bankruptcy petition in Las Vegas together with a reorganization plan, under which secured lenders, led by Starwood Capital Group, would receive new debt and stock.
In 2012, the company began construction on a chain of hotels under the name of Baccarat Hotels and Resorts which will feature crystal chandeliers from Baccarat. The flagship hotel will be in New York City, New York, on the site of the old Donnell Library Center, which it had bought from the 21 Club. Other complexes are scheduled to open in 2014 and 2015 in Dubai, United Arab Emirates; Rabat, Morocco; Carthage, Tunisia; Marrakech, Morocco; and Foshan, Shanghai; and Tianjin, China.
Also in 2012, Starwood partnered with Toll Brothers to develop the Pierhouse at Brooklyn Bridge Park in Brooklyn for US$280,000,000.
In December 2013, Starwood bought properties from the Swedish retail group Kooperativa Förbundet for 3.9 billion Swedish kronor, or $593.3 million. The seven prime location retail parks and shopping gallerias are located in Stockholm, Gothenburg, Malmö, and Uppsala in Sweden.
Between 2013 and 2014, Starwood acquired three British hospitality groups: De Vere Group (GB£232 million), Four-Pillars Hotels (GB£90 million) and Principal Hayley Group (GB£360 million).
In February 2014, in a 1-for-5 stock distribution, Starwood Property Trust spun off Starwood Waypoint Residential Trust, a single-family rental real estate investment trust. In January 2016, SWRT was merged with Colony American Homes in a $7.7 billion merger, creating the Colony Starwood Homes REIT (NYSE:SFR).
On 26 March 2014 Starwood Capital became an indirect minority shareholder of A.S. Roma (9.36%), through purchasing 20% shares of AS Roma SPV; AS Roma SPV was the direct major shareholder of NEEP Roma Holding (60%); NEEP Roma Holding was the major shareholder of AS Roma SpA (78.038%).
In the summer of 2014, Starwood purchased 7 upscale malls from Taubman Centers for a total of $1.4 billion. The malls are located in Virginia, Florida, North Carolina, Texas, and Michigan.
The firm agreed to terms to acquire 23,262 apartment units from Equity Residential. The deal, valued at $5.365 billion, was planned to close in Q1 2016. The apartments were spread across five states in 72 communities. Starwood is purchasing the portfolio unencumbered.