Starwood Real Estate Income Trust, Inc.

Starwood Real Estate Income Trust, Inc. is a U.S.-based real estate investment trust that owns and operates a diversified portfolio of commercial real estate and real estate debt investments. Its portfolio includes multifamily, industrial, office, self-storage, hospitality and other property types, with assets located across the United States and a smaller international allocation.

105,6 %

57,2 %

−43,7 %

−6,3 %

— Starwood Real Estate Income Trust, Inc.
%
Core real estate equity75% Direct ownership of multifamily, industrial, office, self-storage and hospitality properties.
Real estate debt investments15% Investments in floating-rate and secured loans backed by real estate assets.
Hospitality operations2% Room and related revenue from hospitality properties held in the portfolio.
DST program8% Delaware Statutory Trust interests offered to investors seeking 1031 exchange solutions.

The trust serves investors seeking private real estate exposure, regular cash distributions, and diversification away...

  • Private real estate investorsprimary

    Invest in the trust for income, diversification and exposure to commercial real estate.

  • 1031 exchange investorssecondary

    Buy DST interests to complete tax-deferred like-kind exchange transactions.

  • Commercial and residential tenantsprimary

    Lease space in multifamily, industrial, office and self-storage properties.

  • Hospitality customerssecondary

    Use hotel properties that generate room and related operating revenue.

  • Real estate borrowerssecondary

    Access secured financing through the trust's real estate debt investments.

The portfolio is primarily concentrated in U.S. Sunbelt markets, which the company describes as a major source of...

  • •U.S. portfolio is concentrated in Sunbelt markets
  • •International assets provide diversification and supply scarcity exposure
  • •Industrial assets are focused in in-fill and last-mile locations
  • •Property performance depends on local rent growth and supply conditions
  • •Geography affects tenant demand, occupancy and asset disposition timing

The trust aims to generate current income, preserve capital and grow NAV through proactive asset management and...

01
Maintain income-focused portfolio constructionshort-term

Regular distributions are central to the trust's investor proposition.

02
Expand DST capital raisingmedium-term

DST interests broaden access to 1031 exchange investors and diversify funding sources.

03
Optimize portfolio mix and liquiditymedium-term

Selective asset sales and debt actions support capital allocation and investor liquidity.

The business is exposed to commercial real estate cycles, tenant demand shifts and property-level valuation changes...

high

Commercial real estate market cyclicality

Property values, occupancy and rents depend on local economic conditions and supply-demand balance.

Scope
Multifamily, industrial, office, self-storage and hospitality assets
Materiality
high
high

Liquidity risk from share repurchase requests

The trust must generate cash to meet investor redemptions while preserving portfolio value.

Scope
Repurchase plan and asset sales
Materiality
high
high

Interest-rate and refinancing risk

Debt costs and refinancing terms affect cash flow and asset-level returns.

Scope
Mortgage notes, secured credit facilities and unsecured line of credit
Materiality
high
medium

Office and hospitality weakness

These property types are more sensitive to economic downturns and demand volatility.

Scope
Office and hospitality holdings
Materiality
medium
medium

Geographic concentration in Sunbelt markets

A large share of assets in one macro region increases exposure to regional shocks.

Scope
Sunbelt U.S. portfolio
Materiality
medium
Straight-line rent recognition
Affects rental revenue timing and comparability across periods
Real estate impairment
Can materially affect net income and asset carrying values
Fair value of real estate debt investments
Affects investment income and balance sheet valuation
Disposition accounting
Creates volatility in other income and net results

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: 29.4.2026