“You can see the future if it doesn’t change,’’ Sternlicht said. “Go to Mumbai,” where landlords have no incentives to fix up their buildings and many are falling apart.
Starwood has performed well during the pandemic, thanks to its focus on credit quality and prudent underwriting, Sternlicht said.
“We didn’t come out limping from this crisis,’’ he said. “We came out galloping from the crisis.’’
The real estate investment trust closed two collateralized loan obligations (CLOs) totaling $1.8 billion, which Starwood said allowed it to reduce risk on its balance sheet. Sternicht referred to it as a “fortress balance sheet.”
Investegate |Starwood European Real Estate Announcements | Starwood European Real Estate: SWEF: March 2021 Fact Sheet investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
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XBTO CEO Philippe Bekhazi and Two Roads Development’s Reid Boren with 2955 Northeast Seventh Avenue (Google Maps)
Cryptofinance firm XBTO Group is moving its headquarters to Miami.
The New York-based firm paid $5.4 million for a waterfront commercial condo at Biscayne Beach in Miami’s Edgewater neighborhood. Two Roads Development, which built the 51-story tower, sold the 5,400-square-foot space, said Arden Karson of Karson & Co., who brokered the deal. It traded for $976 per square foot.
Arden Karson
XBTO Group could not immediately be reached for comment.
The commercial unit at 2955 Northeast Seventh Avenue hit the market last year for $6 million with Karson and Douglas Elliman’s David Restainer.
An error in an online listing, according to the firm managing the mall, created social media buzz around MacArthur Center in downtown Norfolk potentially going up for sale.
Starwood Property Trust Announces Date for First Quarter 2021 Earnings Release and Conference Call
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GREENWICH, Conn., April 6, 2021 /PRNewswire/ Starwood Property Trust (NYSE: STWD) today announced that the Company will release its first quarter 2021 financial results on Thursday, May 6, 2021 before the opening of trading on the New York Stock Exchange. A conference call will be held on Thursday, May 6, 2021 at 10:00 a.m. Eastern Time.
During the conference call, the Company s officers will review first quarter performance, discuss recent events and conduct a question-and-answer period.
Webcast
The conference call will also be available in the Investor Relations section of the Company s website at www.starwoodpropertytrust.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the call wil