Starwood Capital, Connecticut’s Third Largest Asset Manager, Moves HQ To Miami

Miami Beach is the new headquarters location for Starwood Capital, one of the nation’s largest REITs.

The company recently updated its website, showing Miami as the location for its headquarters office, according to the Greenwich Time.

Starwood has $55 billion under management, with 3,800 employees in 11 offices worldwide. It was the third largest REIT in Connecticut.

CEO Barry Sternlicht also recently relocated his personal residence to Miami Beach. He has been critical of the high taxes in Connecticut.

 

 

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Polo
3 years ago

Great, now we need Amazon H2!

Anonymous
3 years ago

OK, maybe it’s “officially” HQed here, but for all intents and purposes it’s been here for many years.

Anonymous
3 years ago

Even every tiny positive news about Miami gets complained about in this forum. Sometimes only optics is good for selling Miami as a business location.

Anonymous
3 years ago

But the business and office already existed in MB.

Anonymous
3 years ago

The Third largest REIT in the US just relocated its headquarters to Miami!! Who cares if they where here or not. Every other city would milk that story extensively, but in Miami there is dead silence about it. They market themselves not very effectively.

Jon
3 years ago

Third largest REIT in Connecticut

Anonymous
3 years ago

Third largest Asset manager in Ct and largest commercial reit in the US. I know not worth mentioning in the news…

Starwood Property Trust, an affiliate of global private investment firm Starwood Capital Group, is the largest commercial mREIT in the U.S. The company’s core business focuses on originating, acquiring, financing and managing commercial mortgage loans and other commercial real estate debt and equity investments. Through its subsidiary LNR Property, LLC, Starwood Property Trust also operates as the largest commercial mortgage special servicer in the U.S. With total capital deployed since inception of over $37 billion, Starwood Property Trust continues to solidify its position as one of the premier real estate finance companies in the country.

Optimism
3 years ago

Optically this is a cool story for Miami even if realistically nothing changes. Starwood is a whale and we should be happy they decided to designate Miami as their HQ. Not sure why this is being criticized…

Rigo
3 years ago

This is very exciting news. Starwood is a leader in its space and one of the top real estate private equity shops in the world. For them to establish a larger presence in Miami Beach is great for the city…it won’t be long until others follow.

marc
3 years ago

How does this help us? Is it creating new jobs here?

LongMIA
3 years ago

Depends on whether and how many highly-compensated staff are relocated here since the money they’d be spending locally would have a multiplier effect. Of course, if Starwood is only establishing a mailing address and a couple of local employees as a tax dodge, then there’s little to no positive impact. Anyone know the extent of Starwood’s planned operation?

Anonymous
3 years ago

It’s better than establishing that PO Box in Bermuda.

Anonymous
3 years ago

Tax dodge. The only thing that changed is the address.

Anonymous
3 years ago

They report 3,800 employees in 11 Offices Worlwide. I’d guess that they have at least 200 in their Miami HQ.
http://starwoodcapital.com/business/

Anonymous
3 years ago

They’re actually laying people off in the asset management and loan servicing group. The only reason why they are in Miami Beach is because Lennar, previous owner of LNR, signed a horrible lease to sell the property they built.

Anonymous
3 years ago

Yes.

Martim MSK
3 years ago

Old home of LNR…anyone know where they went?