New Platform to Oversee the Firm's Growing
U.S. and European Data Center Investment Strategy, which Currently
Includes $8 Billion in
Assets
Starwood Capital Also Enters Strategic
Alliance with Worldwide Mission Critical to Help Support
Anticipated Growth
MIAMI, Jan. 18,
2024 /PRNewswire/ -- Starwood Capital Group
("Starwood Capital" or "the Firm"), a leading global private
investment firm focused on real estate, today announced the launch
of Starwood Digital Ventures ("Starwood Digital" or "the
Platform"), a platform dedicated to the Firm's growing global data
center investment strategy.
Over the past five years, Starwood Capital has committed a total
of approximately $8 billion in data
center development encompassing 1.5 gigawatts in various stages of
development, making it one of the largest privately held data
center developers in the United
States and Europe. Starwood
Digital Ventures will utilize funds from various Starwood
Investment Vehicles to continue to develop its pipeline as well as
partner with best-in-class data center operators.
In conjunction with this announcement, Starwood Capital also
announced that it has entered into a strategic alliance with
Worldwide Mission Critical, an industry-leading consulting firm
with deep expertise assisting clients with the design and
development of data center projects. Worldwide Mission Critical
provides services ranging from design management, bidding and
procurement, construction quality control, and integrated testing
for data center projects. The firm has partnered with Starwood
Capital on several projects over the past five years. The strategic
alliance will allow Starwood Capital to quickly scale its data
center platform to support anticipated growth.
"We are incredibly excited about the launch of Starwood Digital,
which will provide us with additional opportunities to grow our
data center portfolio amidst strong industry tailwinds," said
Barry Sternlicht, Chairman and CEO
of Starwood Capital. "With the strong demand for data center
services in the United States and
growing needs to support end uses such as artificial intelligence,
we see continued opportunity to invest in this growing sector."
"In addition, we have worked closely with Worldwide Mission
Critical the last several years and look forward to deepening our
relationship with the industry experts there, who have become
valued partners of ours, as we leverage their skills and strong
industry reputation to expand our data center investments both
domestically and abroad generating compelling value for our
investors," said Anthony
Balestrieri, Managing Director at Starwood Capital.
About Starwood Capital Group
Starwood Capital Group is a private investment firm with a core
focus on global real estate. The Firm and its affiliates maintain
16 offices in seven countries around the world, and currently have
5,000+ employees. Since its inception in 1991, Starwood Capital
Group has raised over $75 billion of
capital, and currently has ~$115
billion of assets under management. Through a series of
comingled opportunity funds and Starwood Real Estate Income Trust,
Inc. (SREIT), a non-listed REIT, the Firm has invested in virtually
every category of real estate on a global basis, opportunistically
shifting asset classes, geographies and positions in the capital
stack as it perceives risk/reward dynamics to be evolving. Starwood
Capital also manages Starwood Property Trust (NYSE: STWD), the
largest commercial mortgage real estate investment trust in
the United States, which has
successfully deployed over $95
billion of capital since inception and manages a portfolio
of over $27 billion across debt and
equity investments. Over the past 32 years, Starwood Capital Group
and its affiliates have successfully executed an investment
strategy that involves building enterprises in both the private and
public markets. Additional information can be found at
www.starwoodcapital.com.
About Worldwide Mission Critical
Worldwide Mission Critical is a global owner's representation
and project management company dedicated to advancing the data
center industry. Relying on a team of more than 30 design and
construction professionals, Worldwide Mission Critical handles
every aspect of the development of data centers, including site
selection, plan development, procurement, design oversight,
construction and building turnover. Founded in 2018 under the
principle of delivering high-quality, impactful projects, Worldwide
Mission Critical has successfully completed more than 650 projects
and currently maintains more than 3.5GW of data centers under
development with operations spanning five continents. For more
information, visit worldwidemissioncritical.com.
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SOURCE Starwood Capital Group