On This Page
Starwood Real Estate Income Trust (SREIT)
Key Statistics
Fund Size
$7,956M
Target Return
N/A
Annualized Return
5.0%
Launch Year
2018
Min. Investment
€5,000
Availability
Open through selected distributors
Structure
Non-Traded REIT
Product Category
Open-end
Domicile
United States
GP Type
Single
Liquidity Level
Semi-liquid
Management Fee
1.25%
Carry
12.5% performance participation over 5% hurdle (20% of management fee waived since May 2024)
Hurdle Rate
5%
High Water Mark
Yes
Catch-Up Mechanism
100% catch-up
Currencies
USD
Investor Eligibility
Retail
Liquidity Options
Share repurchase plan suspended since April 2026
Highlights
US Fund Metrics
NAV per Share
$19.41
Distribution Frequency
Monthly
Redemption Notice
Requests due by second-to-last business day of the month (exception categories only while plan is suspended)
Tax Form
1099-DIV
Liquidity Terms
Monthly repurchases at the prior month's NAV under the share repurchase plan when operating; shares held under one year are repurchased at 95% of the transaction price and requests are due by the second-to-last business day of the month. Requests have exceeded plan limits consistently since October 2022. Caps were cut from 2% of NAV per month / 5% per quarter to 0.33% / 1.0% in May 2024, raised to 0.50% / 1.5% in June 2025, and effective April 29, 2026 repurchases were suspended entirely except upon death or qualifying disability and for accounts below $5,000 (each limited to $5 million per month). Management has stated a long-term goal of reinstating repurchases but has not committed to a date.
Allocations
Geographic Focus
Investment Strategy
Industry Focus
Historical Performance
Performance Summary
Class I — Performance from 2018-12-21 to 2026-07-31
NAV: 19.41
Performance Comparison
MTD
-0.15%
Year to Date
0.32%
Annualized Since Inception
5.05%
Monthly Total Returns
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.07% | 0.01% | 0.02% | 0.12% | 0.14% | 0.26% | -0.15% | — | — | — | — | — | 0.32% |
| 2025 | 0.15% | -0.28% | -1.09% | -0.31% | 0.26% | 0.47% | 0.00% | -0.60% | -0.29% | -0.28% | 0.03% | -0.47% | -2.40% |
| 2024 | 0.69% | 1.02% | 0.17% | -0.21% | -0.07% | -0.68% | 0.03% | -0.51% | -0.73% | -0.04% | -0.17% | 0.71% | 0.20% |
| 2023 | -0.73% | 0.71% | -1.83% | -0.46% | 0.45% | -1.40% | 0.35% | 0.18% | 0.17% | -0.05% | -2.50% | -3.74% | -8.59% |
| 2022 | 1.77% | 1.21% | 2.47% | 1.39% | 0.66% | 0.55% | 0.43% | 0.79% | 0.54% | -0.04% | -1.31% | -2.27% | 6.28% |
| 2021 | 0.54% | 0.71% | 1.16% | 0.92% | 2.18% | 1.21% | 1.86% | 4.48% | 3.19% | 2.16% | 3.75% | 1.52% | 26.33% |
| 2020 | 0.61% | 0.82% | -1.72% | 0.56% | 0.54% | 0.78% | 0.52% | 0.52% | 0.62% | 0.43% | 0.60% | 1.95% | 6.40% |
| 2019 | 0.42% | 1.15% | 0.92% | 1.10% | 1.43% | 1.98% | 0.26% | 0.84% | 1.43% | 0.34% | 1.08% | 1.87% | 13.59% |
Class D — Performance from 2018-12-21 to 2026-07-31
NAV: 19.17
Performance Comparison
MTD
-0.17%
Year to Date
0.17%
Annualized Since Inception
4.67%
Annual Total Returns
| Year | Total Return |
|---|---|
| 2026 | 0.17% |
| 2025 | -2.65% |
| 2024 | -0.12% |
| 2023 | -8.80% |
| 2022 | 6.06% |
| 2021 | 25.12% |
| 2020 | 6.24% |
| 2019 | 12.97% |
Class S — Performance from 2018-12-21 to 2026-07-31
NAV: 19.58
Performance Comparison
MTD
-0.22%
Year to Date
-0.18%
Annualized Since Inception
4.26%
Annual Total Returns
| Year | Total Return |
|---|---|
| 2026 | -0.18% |
| 2025 | -3.23% |
| 2024 | -0.65% |
| 2023 | -9.32% |
| 2022 | 5.45% |
| 2021 | 25.69% |
| 2020 | 5.53% |
| 2019 | 12.87% |
Class T — Performance from 2018-12-21 to 2026-07-31
NAV: 19.59
Performance Comparison
MTD
-0.23%
Year to Date
-0.20%
Annualized Since Inception
4.29%
Annual Total Returns
| Year | Total Return |
|---|---|
| 2026 | -0.20% |
| 2025 | -3.26% |
| 2024 | -0.62% |
| 2023 | -9.28% |
| 2022 | 5.64% |
| 2021 | 26.31% |
| 2020 | 5.74% |
| 2019 | 12.11% |
Information about fund
SREIT at a Glance
Starwood Real Estate Income Trust (SREIT) is a non-listed, perpetual-life REIT sponsored by Starwood Capital Group, with share classes launched on December 21, 2018. At its peak it ranked among the largest non-traded REITs in the United States alongside Blackstone’s BREIT. It is deliberately concentrated in US rental housing: 71% of the portfolio is multifamily, making it one of the largest owners of multifamily apartments in the country with more than 63,000 units.
Key Figures (31 July 2026)
Net Asset Value
$8.0B
Total asset value $22.5B
Properties
598
94% occupancy; 58% leverage
Since-Inception Return
5.05%
Class I annualized since Dec 2018
Distribution Rate
~4.7%
After the April 2026 cut to $0.0770/month
Multifamily
71%
47% market-rate + 24% affordable housing
Fees
1.00%* + 12.5%
*1.25% with 20% waived since May 2024; 5% hurdle, HWM
Repurchase Program Timeline
| Original terms | Monthly repurchases capped at 2% of NAV per month, 5% per quarter |
| Since Oct 2022 | Requests consistently exceeded plan limits |
| May 2024 | Caps cut to 0.33%/month and 1.0%/quarter; 20% management fee waiver introduced |
| Jun 2025 | Caps partially raised to 0.50%/month and 1.5%/quarter |
| Apr 29, 2026 | Repurchases suspended except death/disability and sub-$5,000 accounts ($5M/month each); distribution cut from $0.1035 to $0.0770 |
| Aug 2026 | $1.02B Apollo JV (41.5% of ~120 affordable properties); leverage reduced from ~58% to 54% |
Terms
| Share Classes | T, S, D (min $5,000) and I (min $1,000,000); per-class upfront and servicing fees |
| Eligibility | $350,000 net worth, or $100,000 income + $100,000 net worth (Feb 2026 prospectus) |
| Tax | Maryland REIT, Form 1099-DIV; distributions 100% return of capital 2020–2025 |
| EEA | Not registered for distribution in the EEA |
Since inception SREIT has returned more than $5 billion to stockholders through repurchases at NAV, and management has stated a goal of reinstating repurchases as liquidity is rebuilt through capital raises and asset sales, without committing to a date. Given the suspended repurchase plan, an investment currently offers no assured exit and suits only investors who can hold indefinitely.
This is an unverified fund profile written by FundScouter and may contain inaccuracies.
Are you affiliated with this fund? Claim this fund to verify and manage your fund profile.