Redefining Real Estate Investing

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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 25-year-old private n Assets under management of $51 billion. investment firm with: n More than 2,200 employees in nine offices worldwide, and approximately 17,000 additional employees involved with a dozen portfolio operating companies. n A seasoned, stable senior management team that has worked together an average of 17 years and possesses an average of 28 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 initial public offerings for eight leading 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 largest publicly traded owners and operators of single- Since its inception in 1991, Starwood Capital has raised depths of the savings & loan crisis of the early 1990s. At that time, family rental homes in the United States—Starwood Waypoint Chairman & CEO Barry Sternlicht founded Starwood Capital to Residential Trust (NYSE: SWAY), now trading as Colony Starwood $34 billion of equity capital and currently has capitalize on the unique opportunity to acquire non-performing Homes (NYSE: SFR). loans and real estate assets from the U.S. government-owned • One of the leading providers of residential sites to the U.S. $51 billion of assets under management. Over the past Resolution Trust Corp. By purchasing several thousand multifamily homebuilding industry—Starwood Land Ventures, with nearly units at a significant discount to replacement cost—in distressed 20,000 lots acquired since inception and a current inventory of 25 years, Starwood Capital has acquired more than markets that he believed were poised for recovery—Mr. Sternlicht nearly 7,500 developable lots. established an investment template that Starwood Capital • One of the United Kingdom’s leading hotel operators continues to follow to this very day. $79 billion of assets across virtually every real estate (The Principal Hotel Company), with over 40 properties under 1 management. asset class, including: In the 25 years since its inception, Starwood Capital has grown into a diversified investment company that today In its pursuit of the most compelling opportunities globally, encompasses more than 2,200 employees, and approximately Starwood Capital has invested in more than 30 countries, ranging OFFICE: 65 million square feet 17,000 employees involved with a dozen portfolio operating from the Americas to Europe to Asia. Highlighting Starwood companies. The Firm and its affiliates maintain offices in Atlanta, Capital’s international commitment and ability to shift geographies APARTMENTS/CONDOS: 143,000 units Chicago, Greenwich, Hong Kong, London, Los Angeles, Miami, to capitalize on market dislocations, the Firm made the strategic San Francisco and Washington, D.C. decision in 2011 to enhance the Firm’s longstanding presence in RETAIL: 53 million square feet Europe—in anticipation of a prolonged recovery across the region— Throughout its history, the Firm has created a number of market- by relocating the Firm’s Global Head of Acquisitions to London. HOTELS: 2,600 leading platforms to enhance operational efficien cies and maximize the value of its investments. These platforms include: Reflecting the success of its investment activities, Starwood Capital RESIDENTIAL: 52,000 lots • One of the world’s largest public hotel companies—Starwood and its professionals have received numerous industry accolades Hotels & Resorts (NYSE: HOT). INDUSTRIAL: 37 million square feet over the years. In 2015 alone, the Firm was honored by leading global • Two of the biggest commercial mortgage finance companies in private real estate publication PERE in the following categories: • North American Firm of the Year. LOANS: 2,650 the United States—Starwood Property Trust (NYSE: STWD) and iStar (NYSE: STAR). • European Firm of the Year. • Global Industry Figure of the Year. OPERATING COMPANIES: 28 • One of the largest collections of multifamily apartments in the • North American Industry Figure of the Year. United States, with approximately 90,000 units currently under • North American Deal of the Year. management. • #2 in the PERE 50 ranking of the top private equity real • One of the largest portfolios of select-service hotels in the estate firms. United States, with a current portfolio exceeding 500 properties. • One of the largest homebuilders in the United States— From the introduction of the Westin Hotels’ Heavenly Bed and TRI Pointe Homes (NYSE: TPH), with a current inventory of Starwood Preferred Guest program, to the development of hotel approximately 28,000 developable lots. brands inspired by nature (1 Hotels) and an iconic French crystal • One of the leading regional mall operators in the United States— maker (Baccarat Hotels & Resorts), Starwood Capital has always Starwood Retail Partners, which currently manages more than challenged the conventional wisdom in its pursuit of value around 28 million square feet of retail space. the world. We invite you to partner with us as we continue… Redefining Real Estate Investing. 1 Data4 STARWOOD throughout as CAPITAL of Dec. 31,GROUP 2015 STARWOOD CAPITAL GROUP 5 STARWOOD CAPITAL HISTORICAL HIGHLIGHTS Starwood Capital funds acquire Corus Wokefield Park, Reading, SOF IX and U.K. Co-Invest Starwood Opportunity Bank’s $4.5B face-value loan portfolio Starwood Capital, via an Fund IV (SOF IV) Hôtel du Louvre, Paris, Hotel I, SOF VII and Starwood Capital funds acquire Principal Hayley, which Barry Sternlicht launches SDL Co-Invest from the FDIC in one of the government’s affiliate, acquires a majority closes at $830M the Firm subsequently merges with Four Pillars and Starwood Capital largest distressed debt transactions Starwood Global Opportunity Fund De Vere Venues to create a leading U.K. hotel platform of the distressed senior debt Starwood Capital funds complete the during the Great Recession of Hotel Investors Trust, thus Starwood Opportunity Fund V $3.2B acquisition of Groupe Taittinger VIII (SOF VIII) closes at $1.83B setting the stage for the Firm’s (SOF V) closes at $516M and Société du Louvre Starwood Energy Infrastructure Fund II (SEIF II) closes at $983M emergence as a global leader in the hospitality space Starwood Hotels & Resorts Starwood Capital Global Hospitality Fund II (Hotel II) closes at $965M Starwood Waypoint Residential Trust Worldwide is added to the Mr. Sternlicht returns to (NYSE: SWAY), one of the largest S&P 500 Index Starwood Capital full time owners of single-family rental homes as Chairman and CEO Starwood Capital, via an affiliate, in the U.S., goes public makes the first in a series of Starwood Mezzanine Starwood Capital, via an affiliate, acquisitions that will establish Investors closes at $220M takes National Golf Properties the Firm as one of the largest Starwood Capital via SOF VIII, goes public (NYSE: TEE) private SOF I/IA contribute the operators of select-service and with Opus Bank (NASDAQ: OPB), a leading Leo Burnett Building, extended-stay hotels in the U.S. regional real estate lender majority of their multifamily Chicago, SOF IV portfolio to Equity Starwood Global Opportunity Residential (NYSE: EQR)— Mint, Miami, SOF VIII and CB Co-Invest Starwood Capital, via an Fund X (SOF X) closes at $5.6B which goes on to become First W Hotel affiliate, makes the first the largest publicly traded opens in New York The Visionaire, developed in a series of acquisitions apartment owner in the U.S., Starwood Capital funds acquire a by Starwood Capital via an of leading regional malls with Mr. Sternlicht serving portfolio of apartments across the U.S. affiliate, becomes Manhattan’s in the U.S., and creates from Equity Residential in a transaction on its Board of Directors first Platinum LEED-certified National Golf Ruffled Feathers Golf Course, Starwood Retail Partners valued at $5.4B—the largest non-hotel Lemont Illinois, SOF VI condominium project to manage the portfolio 805 Third Avenue, New York, purchase in the Firm’s history 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 Starwood Capital Starwood Capital affiliate Starwood Capital funds acquire purchases Westin Starwood Capital Starwood Energy Starwood European TMI Hospitality, one of the largest Starwood Opportunity Hotels & Resorts and Starwood Opportunity Hospitality Fund I Infrastructure Real Estate Finance owners, managers and developers Funds I and IA begins a new growth Fund VI (SOF VI) closes at $567M (Hotel I) closes Fund (SEIF I) (LSE: SWEF) goes public of select-service hotels in the U.S. (SOF I and IA) close phase for the business at approximately closes at $433M at $52M $900M Starwood Energy Group, via an affiliate, completes the Starwood SSM Project—one of Starwood Capital launches 1 Hotels the largest solar power plants in Canada and Baccarat Hotels & Resorts brands Starwood Capital creates Starwood Capital opens Starwood Capital, via Starwood Opportunity Fund II Starwood Financial, an office in London— an affiliate, launches (SOF II) closes at $102M subsequently renamed iStar marking the beginning Starwood Land Financial (NYSE: STAR), which of the Firm’s significant Ventures, which goes becomes one of the largest expansion of its Les Docks, Marseille, France, SOF VI on to become one of publicly traded real estate international operations the leading providers of finance companies in the U.S.
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