Starwood, Trez Target $1B in Annual Residential Land Loans
Starwood Capital Group and Trez Capital have formed a strategic partnership to finance land acquisition and development for U.S. single-family communities. The partnership is expected to be seeded with $450 million in loans originated by Trez and will target more than $1 billion in annual originations.
“Bringing together Starwood’s institutional capital, deep expertise in real estate financing and master-planned community development with Trez Capital’s capabilities in residential land financing will uniquely position us to capitalize on sector tailwinds as a premier lending platform,” said Anthony Murphy, managing director at Starwood.
John D. Hutchinson, Trez’s co-CEO and global head of origination, said the relationship would significantly expand its U.S. residential land development lending business.
Starwood recently completed fundraising for Starwood Distressed Opportunity Fund XIII, securing more than $10.2 billion. Founded in 1991, the firm has raised over $95 billion and manages more than $130 billion.
Trez Corporate Group manages more than C$4.7 billion and has funded over 1,800 transactions totaling more than C$23 billion since inception.