Advertisement
Singapore markets closed

  • Straits Times Index

    3,330.77
    -0.04 (-0.00%)
     

  • Nikkei

    38,683.93
    -19.58 (-0.05%)
     

  • Hang Seng

    18,366.95
    -109.85 (-0.59%)
     

  • FTSE 100

    8,245.37
    -39.97 (-0.48%)
     

  • Bitcoin USD

    69,421.85
    -2,070.72 (-2.90%)
     

  • CMC Crypto 200

    1,443.28
    -35.42 (-2.40%)
     

  • S&P 500

    5,346.99
    -5.97 (-0.11%)
     

  • Dow

    38,798.99
    -87.18 (-0.22%)
     

  • Nasdaq

    17,133.12
    -40.00 (-0.23%)
     

  • Gold

    2,311.10
    -79.80 (-3.34%)
     

  • Crude Oil

    75.38
    -0.17 (-0.23%)
     

  • 10-Yr Bond

    4.4300
    +0.1490 (+3.48%)
     

  • FTSE Bursa Malaysia

    1,617.86
    +3.13 (+0.19%)
     

  • Jakarta Composite Index

    6,897.95
    -76.95 (-1.10%)
     

  • PSE Index

    6,518.76
    +8.90 (+0.14%)
     

Starwood's property fund taps credit line as investors pull cash, FT reports

Reuters
·1-min read

May 16 (Reuters) - Starwood Real Estate Investment Trust is running low on liquidity as spooked investors pull money amid rising debt costs and fears over real estate valuations, the Financial Times reported on Thursday.

The Starwood Trust, owned by private real estate investor Starwood Capital Group, has borrowed more than $1.3 billion from its $1.55 billion unsecured credit facility since the beginning of 2023 due to high redemption demands, according to the report.

The fund has $225 million in cash left to draw as per its latest filings, and at the rate of these redemptions, will run out of credit and cash in the second half of 2024, the FT reported.

Starwood Capital did not immediately respond to a Reuters request for comment.

(Reporting by Pritam Biswas in Bengaluru; Editing by Anil D'Silva)