Redefining Real Estate Investing

Total Page:16

File Type:pdf, Size:1020Kb

Redefining Real Estate Investing REDEFINING REAL ESTATE INVESTING CONFIDENTIAL INFORMATION – PROPRIETARY AND TRADE SECRET – DISTRIBUTION STARWOOD IS STRICTLY CAPITAL PROHIBITEDGROUP 1 AT A GLANCE Starwood Capital Group n A primary focus on global real estate. is a 26-year-old private n Assets under management of investment firm with: approximately $56 billion. n More than 3,600 employees in 11 offices worldwide, and over 9,000 additional employees involved with multiple portfolio operating companies. n Seasoned executive and investment committees that have worked together an average of 16 years and possess an average of 25 years of industry experience. n The investment flexibility to shift between real estate asset classes, geographies and positions in the capital stack as we perceive risk/return dynamics to be evolving. n Extensive public markets expertise, having guided IPOs for eight companies. SALESFORCE TOWER, LONDON ON THE COVER: BACCARAT HOTEL & RESIDENCES NEW YORK 2 STARWOOD CAPITAL GROUP PENTHOUSE (artist’s rendering) STARWOOD CAPITAL GROUP 3 OUR FIRM Starwood Capital Group is a private investment firm focused on real estate whose business is built upon innovation. The Firm’s creativity is its primary differentiator— and the source of its ability to unlock value on behalf of investors. That spirit of innovation goes back to the Firm’s roots in the • One of the leading providers of residential sites to the U.S. Since its inception in 1991, the Firm has raised over depths of the savings & loan crisis of the early 1990s. At that time, homebuilding industry—Starwood Land Ventures, with nearly Chairman & CEO Barry Sternlicht founded Starwood Capital to 20,000 lots acquired (now Starwood Land Advisors). $44 billion of equity capital and currently has capitalize on the unique opportunity to acquire non-performing • An innovative hotel management company, SH Group, that is loans and real estate assets from the U.S. government-owned introducing the 1 Hotels and Baccarat Hotels & Resorts brands to approximately $56 billion of assets under management. Resolution Trust Corp. By purchasing several thousand multifamily the market. units at a significant discount to replacement cost—in distressed • One of the United Kingdom’s leading hotel operators markets that he believed were poised for recovery—Mr. Sternlicht Over the past 26 years, Starwood Capital has acquired (The Principal Hotel Company), with over 35 properties under established an investment template that Starwood Capital management. over $88 billion of assets across virtually every major continues to follow to this very day. In its pursuit of the most compelling opportunities globally, real estate asset class,1 including: In the 26 years since its inception, Starwood Capital has Starwood Capital has invested in more than 30 countries, ranging grown into a diversified investment company that today from the Americas to Europe to Asia. Highlighting Starwood encompasses more than 3,600 employees, and over 9,000 Capital’s international commitment and ability to shift geographies OFFICE: 78 million square feet employees involved with multiple portfolio operating companies. to capitalize on market dislocations, the Firm made the strategic The Firm and its affiliates maintain offices in Amsterdam, decision in 2011 to enhance the Firm’s longstanding presence in APARTMENTS/CONDOS: 170,000 units Atlanta, Chicago, Greenwich, Hong Kong, London, Luxembourg, Europe—in anticipation of a prolonged recovery across the region— Los Angeles, Miami, San Francisco and Washington, D.C. by relocating the Firm’s Global Head of Acquisitions to London. RETAIL: 54 million square feet Starwood Capital also relocated a Managing Director who sits on the Throughout its history, the Firm has created a number of market- Firm’s Investment Committee to Luxembourg to oversee all European HOTELS: 2,900 leading platforms to enhance operational efficien cies and investments in Starwood Capital funds. maximize the value of its investments. These platforms include: RESIDENTIAL: 50,000 lots • One of the world’s largest public hotel companies—Starwood Reflecting the success of its investment activities, Starwood Capital Hotels & Resorts (formerly NYSE: HOT, since merged with and its professionals have received numerous industry accolades INDUSTRIAL: 40 million square feet Marriott Hotels). over the years. Leading industry publication PERE recognized Starwood Capital’s strengths in 2016 by giving Barry Sternlicht their • Two of the biggest commercial mortgage finance companies in LOANS: inaugural Lifetime Achievement Award. This followed the 2015 3,500 the United States—Starwood Property Trust (NYSE: STWD) and awards which presented Starwood Capital with numerous honors iStar (NYSE: STAR). OPERATING COMPANIES: 30+ including: • One of the largest collections of multifamily apartments in the • North American Firm of the Year. United States, with approximately 85,000 units currently under • European Firm of the Year. management. • Global Industry Figure of the Year. • One of the largest portfolios of select-service hotels in the • North American Industry Figure of the Year. United States, with a current portfolio exceeding 500 properties. • North American Deal of the Year. • One of the largest homebuilders in the United States— TRI Pointe Homes (NYSE: TPH). From the introduction of the Westin Hotels’ Heavenly Bed and Starwood Preferred Guest program, to the development of hotel • One of the leading regional mall operators in the United States— brands inspired by nature (1 Hotels) and an iconic French crystal Starwood Retail Partners, which currently manages more than maker (Baccarat Hotels & Resorts), Starwood Capital has always 28 million square feet of retail space. challenged the conventional wisdom in its pursuit of value around • One of the largest publicly traded owners and operators of the world. We invite you to partner with us as we continue… single-family rental homes in the United States—Starwood Waypoint Homes (formerly NYSE: SFR, since merged with Redefining Real Estate Investing. Invitation Homes). 1 Data4 STARWOOD throughout as CAPITAL of Sept. GROUP30, 2017 STARWOOD CAPITAL GROUP 5 STARWOOD CAPITAL HISTORICAL HIGHLIGHTS Starwood Opportunity Starwood Global Opportunity Fund VIII (SOF VIII) closes at $1.83B Starwood Waypoint Residential Trust Starwood Capital, via an Fund IV (SOF IV) Hôtel du Louvre, Paris, Hotel I, SOF VII and Barry Sternlicht launches SDL Co-Invest (NYSE: SWAY), one of the largest affiliate, acquires a majority closes at $830M Starwood Capital owners of single-family rental homes of the distressed senior debt Starwood Capital funds complete the Starwood Capital Global Hospitality Fund II in the U.S., goes public of Hotel Investors Trust, thus Starwood Opportunity Fund V $3.2B acquisition of Groupe Taittinger (Hotel II) closes at $965M setting the stage for the Firm’s (SOF V) closes at $516M and Société du Louvre emergence as a global leader Starwood Capital, via an affiliate, makes the first in the hospitality space Starwood Hotels & Resorts in a series of acquisitions of leading regional Mr. Sternlicht returns to China Life, China’s largest life insurance company, Worldwide is added to the malls in the U.S., and creates Starwood Retail Starwood Capital full time along with some major sovereign wealth funds and S&P 500 Index Partners to manage the portfolio as Chairman and CEO insurance companies invest with Starwood Capital in approximately $3.3B of U.S. select-service hotels Starwood Energy Starwood Mezzanine Starwood Capital, via an affiliate, Mosaic II, Houston, SOF VIII and CB Co-Invest Infrastructure Fund II Investors closes at $220M takes National Golf Properties Starwood Capital funds acquire Corus (SEIF II) closes at $983M (NYSE: TEE) private Starwood Capital via SOF I/IA contribute the Bank’s $4.5B face-value loan portfolio Starwood Capital, via SOF VIII, goes public with majority of their multifamily Leo Burnett Building, from the FDIC in one of the government’s an affiliate, makes Chicago, SOF IV Starwood Capital Opus Bank (NASDAQ: OPB), Starwood Waypoint portfolio to Equity largest distressed debt transactions the first in a series of funds acquire a leading regional real Residential Trust Residential (NYSE: EQR)— during the Great Recession acquisitions that will Principal Hayley, estate lender merges with Invitation which goes on to become First W Hotel establish the Firm opens in New York as one of the largest which the Firm Homes, creating the the largest publicly traded The Visionaire, developed operators of select- subsequently merges largest single-family apartment owner in the U.S., by Starwood Capital via an service and extended- with Four Pillars and Starwood Global landlord in the U.S. with Mr. Sternlicht serving affiliate, becomes Manhattan’s stay hotels in the U.S. De Vere Venues to Opportunity Fund X on its Board of Directors first Platinum LEED-certified National Golf Ruffled Feathers Golf Course, create a leading U.K. (SOF X) closes Lemont Illinois, SOF VI condominium project 805 Third Avenue, New York, hotel platform at $5.6B Starwood Mezzanine 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Starwood Capital Starwood Energy Group, via an affiliate, Starwood Capital purchases Westin Starwood Capital Starwood Energy completes the Starwood SSM Project—one funds acquire Milestone Starwood Opportunity Hotels & Resorts and Starwood Opportunity Hospitality Fund I Infrastructure of the largest solar power
Recommended publications
  • Jamba, Inc. (JMBA) CEO to Ring the NASDAQ Stock Market Opening Bell
    Jamba, Inc. (JMBA) CEO to Ring The NASDAQ Stock Market Opening Bell ADVISORY, Aug. 9, 2011 (GLOBE NEWSWIRE) -- What: Jamba, Inc. (JMBA) the holding company that owns and franchises JAMBA JUICE(R) stores, will visit the NASDAQ MarketSite in New York City's Times Square. In honor of the occasion, James D. White, Chairman, President, & CEO, will ring the Opening Bell. Where: NASDAQ MarketSite — 4 Times Square — 43rd & Broadway — Broadcast Studio When: Wednesday, August 10th, 2011 — 9:15 a.m. to 9:30 a.m. ET Contact: Don Duffy, ICR 203-682-8200 [email protected] NASDAQ MarketSite: Jen Knapp (212) 401-8916 [email protected] Feed Information: The Opening Bell is available from 9:20 a.m. to 9:35 a.m. on AMC3 / C20, downlink frequency 4100 vertical. The feed can also be found on Ascent fiber 1623. If you have any questions, please contact Jen Knapp at (212) 401-8916. Facebook and Twitter: For multimedia features such as exclusive content, photo postings, status updates and video of bell ceremonies please visit our Facebook page at: http://www.facebook.com/nasdaqomx For news tweets, please visit our Twitter page at: http://twitter.com/nasdaqomx Webcast: A live webcast of the NASDAQ Opening Bell will be available at: http://www.nasdaq.com/about/marketsitetowervideo.asx or http://social.nasdaqomx.com. Photos: To obtain a hi-resolution photograph of the Market Open, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market open of your choice. About Jamba, Inc. Jamba, Inc. (Nasdaq:JMBA) is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA JUICE® stores.
    [Show full text]
  • NYU SPS 24Th Annual REIT Symposium Agenda
    24TH ANNUAL REIT SYMPOSIUM CONSOLIDATION & GROWTH IN TURBULENT TIMES WEDNESDAY, APRIL 3, 2019 • 7:30 AM TO 5:00 PM THE PIERRE • NEW YORK CITY KEYNOTE SPEAKER CONFIRMED SPEAKERS JAMES TAICLET ADDITIONAL SPEAKERS TO BE ANNOUNCED Chairman, President and Chief JANA COHEN BARBE, Partner, Dentons Executive Officer, American STUART BARR, Fried, Frank, Harris, Shriver & Tower Corporation Jacobson LLP Z. JAMIE BEHAR, Director, Shurgard Self Storage SA ONE-ON-ONES WITH MICHAEL J. BILERMAN, Citi DEBRA A. CAFARO JON E. BORTZ, Pebblebrook Hotel Trust Chairman and Chief Executive GEMMA BURGESS, President US Search Officer, Ventas Ferguson Partners Ltd. BILLY BUTCHER, KKR Real Estate Group KENNETH CAPLAN JAMES B. CONNOR, Duke Realty Corporation Global Co-Head of Real Estate GORDON F. DUGAN, Former CEO, Gramercy Blackstone Property Trust CONOR C. FLYNN, Kimco Realty Corporation BARRY S. STERNLICHT BONNIE S. GOTTLIEB, Nareit Chairman of Starwood Capital Group THOMAS A. GRIER, J.P. Morgan Securities GRETA GUGGENHEIM, Chief Executive Officer President and Partner, TPG Real Estate Finance Trust LUNCH WITH SAM ZELL LESLIE D. HALE, RLJ Lodging Trust SAM ZELL DANA HAMILTON, Senior Managing Director and Chairman, Equity Group Head of Real Estate, Pretium Investments RONALD L. HAVNER, Jr., Public Storage, PS Business Parks, Shurgard Europe CONFERENCE CHAIRS ELIZABETH I. HOLLAND, Chief Executive Officer and General Counsel, Abbell Associates, LLC ADAM O. EMMERICH JEFFREY D. HOROWITZ, Bank of America Merrill Lynch Partner, Wachtell, Lipton, Rosen & Katz ANDY JONAS, Goldman Sachs & Co. LLC JOHN KILROY, Kilroy Realty Corporation ROBIN PANOVKA MATTHEW J. LUSTIG, Lazard Partner, Wachtell, Lipton, JOEL S. MARCUS, Alexandria Real Estate Equities, Inc.
    [Show full text]
  • Costar Group, Inc (CSGP), President and CEO, to Ring the NASDAQ Stock Market Opening Bell
    CoStar Group, Inc (CSGP), President and CEO, to Ring The NASDAQ Stock Market Opening Bell ADVISORY, Jan. 18, 2012 (GLOBE NEWSWIRE) -- What: CoStar Group, Inc (CSGP), the leading provider of information, analytic and marketing services to the commercial real estate market, will visit the NASDAQ MarketSite in New York City's Times Square. In honor of the occasion, Andrew Florance, President and CEO, will ring the Opening Bell. Where: NASDAQ MarketSite — 4 Times Square — 43rd & Broadway — Broadcast Studio When: Thursday, January 19th, 2012 — 9:15 a.m. to 9:30 a.m. ET Contact: Rich Simonelli (267) 884-3559 [email protected] NASDAQ MarketSite: Jen Knapp (212) 401-8916 [email protected] Feed Information: Fiber Line (Encompass Waterfront): 4463 Gal 3C/06C 95.05 degrees West 18 mhz Lower DL 3811 Vertical FEC 3/4 SR 13.235 DR 18.295411 MOD 4:2:0 DVBS QPSK Facebook and Twitter: For multimedia features such as exclusive content, photo postings, status updates and video of bell ceremonies please visit our Facebook page at: http://www.facebook.com/nasdaqomx For news tweets, please visit our Twitter page at: http://twitter.com/nasdaqomx Webcast: A live webcast of the NASDAQ Opening Bell will be available at: http://www.nasdaq.com/about/marketsitetowervideo.asx or http://social.nasdaqomx.com. Photos: To obtain a hi-resolution photograph of the Market Open, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market open of your choice. About CoStar Group, Inc [CSGP]: CoStar Group, Inc. (Nasdaq:CSGP) is commercial real estate's leading provider of information, analytic and marketing services.
    [Show full text]
  • Times Square Alliance to Ring the Nasdaq Stock Market Opening Bell
    Times Square Alliance to Ring The Nasdaq Stock Market Opening Bell ADVISORY, Dec. 30, 2014 (GLOBE NEWSWIRE) -- What: Times Square Alliance, an organization dedicated to improving and promoting Times Square by cultivating the creativity, energy and edge that have made the area an icon of entertainment, culture and urban life for over a century, will visit the Nasdaq MarketSite in celebration of the Times Square New Year's Eve event. In honor of the occasion, Tim Tompkins, President will ring the Opening Bell. Where: Nasdaq MarketSite - 4 Times Square - 43rd & Broadway - Broadcast Studio When: Wednesday, December 31, 2014 - 9:15 a.m. to 9:30 a.m. ET Times Square Alliance Media Contact: TJ Witham (212) 452-4534 [email protected] Nasdaq MarketSite: Christine Barna (646) 441-5310 [email protected] Feed Information: Fiber Line (Encompass Waterfront): 4463 Gal 3C/06C 95.05 degrees West 18 mhz Lower DL 3811 Vertical FEC 3/4 SR 13.235 DR 18.295411 MOD 4:2:0 DVBS QPSK Social Media: For multimedia features such as exclusive content, photo postings, status updates and video of bell ceremonies please visit our Facebook page at: http://www.facebook.com/NASDAQ. For photos from ceremonies and events visit our Instagram Page: http://instagram.com/nasdaq. For news tweets, please visit our Twitter page at: http://twitter.com/nasdaq. For exciting viral content and ceremony photos visit Tumblr Page: http://nasdaq.tumblr.com/. Webcast: A webcast of the Nasdaq Opening Bell will be available at: https://new.livestream.com/nasdaq/live or http://www.nasdaq.com/about/marketsitetowervideo.asx.
    [Show full text]
  • Barry Sternlicht, Starwood Capital Group
    FIRM OF THE YEAR, NORTH AMERICA Starwood Capital Group Starwood’s 2015 performance is measured in billions. The Greenwich, Connecticut- based firm made headlines across property types with its first foray into student housing and the launch of two hotel brands. But it was the billion-dollar transactions that catapulted the firm to the top of the list. Starwood bet big on multifamily though the $5.4 billion October purchase of 23,262 apartment units in 72 areas from Sam Zell’s Equity Residential. The same month, Starwood also agreed to purchase Landmark Apartment Trust, a multifamily real estate investment trust, for $1.9 billion. That acquisition added another 19,615 apartment to the firm’s portfolio, bringing the year- end total number of units in Starwood’s portfolio to 90,000. Starwood has also deployed large sums outside multifamily. In an off-market transaction, the firm bought a 62-building suburban office portfolio in areas stretching from Raleigh, North Carolina, to St Louis, Missouri, for more than $1.1 billion. None of these transactions would be possible, of course, without a sizable war chest. The firm raked in $5.6 billion for Starwood Global Opportunity Fund X in under a year, its largest and fastest fundraise. Look for more headline deals with the remaining dry powder in 2016. INDUSTRY FIGURE OF THE YEAR Barry Sternlicht, Starwood Capital Group For Barry Sternlicht, chairman and chief executive of Starwood Capital, $2 billion was on the low end of the scale in 2015 – whether it be acquisitions, privatizations, exits or fundraises. Last October, the Greenwich, Connecticut-based firm announced a pair of giant multifamily deals, first the $5.4 billion acquisition of 23,000 apartments from Equity Residential, then the take-private transaction of Landmark Apartment Trust for $1.9 billion, in partnership with Milestone Apartments.
    [Show full text]
  • HVS Asia-Pacific Hotel Operator Guide Excerpt 2017
    2017 EDITION | Price US$800 EXCERPT THE ANNUAL HVS ASIA-PACIFIC HOTEL OPERATOR GUIDE (AS OF 31 DECEMBER 2016) Pawinee Chaisiriroj Senior Analyst Daniel J Voellm Managing Partner HVS.com HVS | Level 21, The Centre, 99 Queen’s Road Central, Hong Kong The HVS Asia-Pacific Hotel Operator Guide 2017 Foreword It is with great pleasure that I share with you our fourth annual Asia-Pacific Operator Guide, data as of 31 December 2016. This fourth edition will continue to serve owners as a reference for which operator has a strong presence in their home market and in potential future markets further ashore as well as key feeder markets across the region. As more brands are created and/or introduced to the region, owners need to navigate a more complex environment. At the same time, M&A activities have created larger companies with a very large portfolio of brands. At the same time, we see operators building pipelines with limited-service brands that are easier to scale. Which operator to choose? Branding, anchored by the management expertise and distribution power that operators bring to a hotel property, is becoming more and more critical. In the face of increasing competition, non-branded properties often perform at a discount to their branded peers due to lack of awareness and quality assurance. Running a hotel is no easy task and owners have a tendency to view operators’ fees as unjustified for the value they deliver. It is essential that owner and operator align their interest from very early in the process and work towards a common goal, rather than start their long-term relationship from conflicting standpoints.
    [Show full text]
  • Broadway Theater Map
    Broadway Theater Map Times Square & Broadway Restaurants (not mapped – easy to find) • Restaurant Row (46th St, 8th/9th Aves) - home to 30 restaurants on one block, some a bit touristy, but all geared for the Broadway theatre crowd, serving prix- fixe specials and well-aware you have an 8pm show to get to. Recommended: Sushi of Gari 46, Becco & Barbetta (authentic Italian, 100+ years old). • Saki Bar Hagi 46 (358 W 46th St) - Japanese eatery & sake bar offering yakitori, noodles, sushi and much more. Open very late. I love this place! • Becco (355 W 46th, 8th Ave) - Italian, prix-fixe menus, all you can eat pasta and owned by Lidia Bastianich, a local favorite chef. • Carmine's (200 W 44th @ 7th Ave) - family-style Italian and their second restaurant (original on the Upper West Side). Widely popular with the theater crowd, tourists and a great family-friendly stop in Times Square. • Junior's - They have everything (burger, deli, breakfast, dessert), but are likely the most famous NY Cheesecake in the world. 2 locations in Times Square - 45th & 49th. • Sardi’s (234 W 44th, 7th & 8th) - an iconic Broadway institution for years, great for pre- and post- theater meals, a local Broadway star hangout. The menu is kind of random. Maybe upscale continental? Open on Thanksgiving. • Joe Allen - similar to Sardi's in that it is a popular Broadway hangout (stars, producers), but a casual tavern. Orso is their Italian sister restaurant. • Meske (Meskerem) (468 W 47th, 10th Ave) - Ethiopian, inexpensive & interesting. If you've never eaten using spongy bread to pick up your food (no utensils), it's fun and a must-try.
    [Show full text]
  • Press Materials
    DRIFTWOOD HOSPITALITY MANAGEMENT is a leading hotel management company that operates approximately 70 hotels with more than 13,000 rooms throughout the United States and Costa Rica. The company’s current portfolio includes a broad cross-section of brands and ranges from fullservice hotels and resorts to mid-size select-service, extended stay and independent boutique properties. Since the company’s launch in 1999, Driftwood has successfully grown its portfolio by taking a unique entrepreneurial approach, maintaining long-term relationships with investors, clients, lenders and guests. The company’s primary philosophy is to maximize Net Operating Income and ownership returns for each asset by balancing customer service, integrity, employee relations and careful, indepth reviews of each individual market to create effective operating and capital strategies. Driftwood’s experienced and innovative team consistently achieves objectives and delivers real, bottom-line results. Members of the company’s senior management team have an average of 20 years of experience in all segments of the lodging industry and have proven highly successful in the takeover, re-positioning and optimization of hotel operations. Extensive experience working with major brands like Marriott International, Inc., Starwood Hotels & Resorts Worldwide, Inc., Hilton Worldwide, InterContinental Hotels Group, Hyatt Hotels Corporation, Wyndham Worldwide, Choice Hotels International, Inc. and others, gives Driftwood a firm grasp on the ins and outs of the franchising model. Personal Service and Attention Driftwood Hospitality Management is not just a property owner, but also a property manager. As a third-party management company, Driftwood’s approach is a personalized and respectful one. The individual needs of each property in Driftwood’s management portfolio are taken into careful consideration and are critical in creating an effective partnership.
    [Show full text]
  • To Ring the Nasdaq Stock Market Closing Bell
    Nephros, Inc. (Nasdaq: NEPH) to Ring The Nasdaq Stock Market Closing Bell Nephros, Inc. (Nasdaq: NEPH), a commercial stage company that develops and sells high performance water purification products to the medical device and commercial markets, will visit the Nasdaq MarketSite in Times Square. In honor of the occasion, Daron Evans, President & CEO, will ring the Closing Bell. Where: Nasdaq MarketSite – 4 Times Square – 43rd & Broadway – Broadcast Studio When: Monday, October 14, 2019 – 3:45 p.m. to 4:00 p.m. ET Social Media: For multimedia features such as exclusive content, photo postings, status updates and video of bell ceremonies, please visit the Nasdaq Facebook page: https://www.facebook.com/Nasdaq/ For photos from ceremonies and events, please visit the Nasdaq Instagram page: https://www.instagram.com/nasdaq/ For live stream of ceremonies and events, please visit the Nasdaq YouTube page: https://www.youtube.com/nasdaq/live For news tweets, please visit the Nasdaq Twitter page: https://twitter.com/nasdaq For exciting viral content and ceremony photos, please visit the Nasdaq Tumblr page: https://nasdaq.tumblr.com/ Webcast: A live stream of the Nasdaq Closing Bell will be available at: https://livestream.com/nasdaq/live or https://www.nasdaq.com/about/marketsitetowervideo.asx Photos: To obtain a hi-resolution photograph of the Market Close, please go to http:// business.nasdaq.com/discover/market-bell-ceremonies and click on the market close of your choice. About Nephros, Inc. Nephros is a commercial stage company that develops and sells high performance water purification products to the medical device and commercial markets.
    [Show full text]
  • Smartrent to Go Public in $2.2 Billion Merger with Fifth Wall Acquisition Corp
    SmartRent To Go Public in $2.2 Billion Merger with Fifth Wall Acquisition Corp. I, Accelerating Growth of Category-Leading Smart Home Technology for the Global Real Estate Industry ● Includes Oversubscribed $155 Million PIPE Anchored by Leading Real Estate Companies, SmartRent Customers, and Institutional Investors, Including Starwood Capital Group, Lennar, Invitation Homes, Koch Real Estate Investments, Baron Capital Group, D1 Capital Partners L.P., Long Pond Capital, LP, and Conversant Capital LLC ● SmartRent Expects to be EBITDA Positive by 2022; 80% of the Company’s Revenue Projections for 2021-2022 are from Already Committed Units; Growing Base of Recurring Revenue with Zero Churn since Inception ● Fifth Wall, the World’s Largest Proptech Investor Managing $2.5 Billion, Will Open Access to Unmatched Distribution Lanes through its 70 Strategic Real Estate LPs from 15 Countries ● SmartRent Provides Environmentally Sustainable Solutions by Reducing Energy Consumption and Preventing Catastrophic Water Damage for the Real Estate Industry SCOTTSDALE, AZ. — April 22, 2021 – SmartRent.com, Inc. (“SmartRent”) has entered into a definitive business combination agreement with Fifth Wall Acquisition Corp. I (NASDAQ: FWAA) (“FWAA”), a special purpose acquisition company (SPAC) sponsored by an affiliate of Fifth Wall, the largest venture capital firm focused on the global real estate industry and proptech. Upon the closing of the transaction, the combined company will be publicly traded. SmartRent: Bringing Accessibility and Efficiency to the Real Estate Industry SmartRent is the category-leading smart home operating system for residential property owners and managers, homebuilders, home buyers, and residents. Founded in 2017, SmartRent is a proptech company that provides the real estate industry with deeply integrated, brand-agnostic hardware and software solutions.
    [Show full text]
  • Orbis Entered Into Sale and Management Back Transaction of Sofitel Budapest with Starwood Capital
    Press release Budapest, 24th of November 2017 Orbis entered into sale and management back transaction of Sofitel Budapest with Starwood Capital Orbis Hotel Group, the leading hotel operator in Eastern Europe has signed a sale agreement of Sofitel Budapest Chain Bridge with Starwood Capital Group and settled down terms for the management. As part of the transaction, to be completed in the coming months subject to the approval of the European Union Merger Control Office, Starwood Capital Group through a controlled affiliate will acquire the iconic luxury hotel of Budapest, to be continued to operate under the “Sofitel” brand by Orbis in the frame of a long term management agreement to conclude for an initial period of 30 years. In scope of the above mentioned agreement, Sofitel Budapest Chain Bridge will undergo an extensive restoration and renovation plan equipping this landmark hotel with modern luxury premises of the chic Sofitel brand. The purchase price for the Hotel has been agreed at the amount of c.a. EUR 75.000.000. “We are very pleased to enter into this transaction with Starwood Capital, a leading global private investment firm. This project opens a partnership for potential cooperation in the future. In line with Orbis Hotel Groups’ portfolio strategy the aim of the sale and management back transaction of Sofitel Budapest Chain Bridge is gaining financing for further development in the region and increasing of the return on capital invested, reinforcing our sustainable growth.” – highlighted Gilles Clavie, President and CEO of Orbis Hotel Group. “We are delighted to be acquiring this iconic European hotel in this high demand hospitality market, while partnering with AccorHotels and Orbis on this transaction,” said Keith Evans, Vice President, European Hotels at Starwood Capital Group.
    [Show full text]
  • Starwood Capital Group Announces Acquisition of West Hollywood Hotel Property
    Starwood Capital Group Announces Acquisition of West Hollywood Hotel Property The Jeremy West Hollywood Hotel Expected to Open in Late Summer 2017 and to be Transformed into a 1 Hotel, an Award-Winning Luxury, Eco-Conscious, Lifestyle Brand MIAMI, Fla. – July 27, 2017 -- Starwood Capital Group, a leading global private investment firm, today announced that it has acquired, through a controlled affiliate, the newly constructed 286-key The Jeremy West Hollywood hotel property in West Hollywood, Ca. Terms of the transaction were not disclosed. Designed by Skidmore, Owings & Merrill, the property will open in August as The Jeremy Hotel. Located on the corner of La Cienega and Sunset Boulevard, the hotel presents a very distinctive metal cladding in its exterior with its prominent hilltop location allowing for unobstructed breathtaking views from most rooms, ranging from Santa Monica to Downtown LA. The 286 room hotel features 50 suites, including two Penthouse Suites, a pool, fitness center, two large conference rooms and meetings and event space (totaling approximately 10,000 sq. ft.), a spectacular rooftop bar and lounge with 360 views, a café, restaurant and lobby bar. Over the course of the next year, The Jeremy will be transformed into the 1 West Hollywood and will become the fourth property in the award-winning eco conscious luxury sustainable brand created by Starwood Capital. When 1 West Hollywood opens it will join sister hotels in Manhattan, Brooklyn and Miami Beach. Other 1 Hotels under development include Cabo San Lucas, Mexico (fall 2019), Sunnyvale, California (late 2019) and Sanya, China (late 2018). As a testament to the brand’s strong offerings, 1 Hotel Central Park was voted “Best Urban Hotel” in the world by Wallpaper Magazine earlier this year.
    [Show full text]