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Starwood Capital Group Acquires 11 Master-Planned Communities in Texas from Hines

1. Starwood Capital Group acquired $800 million worth of Texas communities. 2. The portfolio includes over 16,000 residential lots and commercial land. 3. Acquisition targets high-growth markets: Dallas, Houston, and Austin. 4. Starwood aims to build on Hines’ previous development successes. 5. Investment underscores demand for housing in high-growth U.S. markets.

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FAQ

Why Bullish?

The acquisition enhances STWD's asset base and exposure to high-demand housing markets, boosting future revenue potential.

How important is it?

The acquisition is pivotal for STWD's growth strategy, proving its commitment to maximizing value in high-demand markets.

Why Long Term?

This deal positions Starwood well for sustained growth in Texas housing, aligning with long-term market trends of increasing urbanization and land appreciation.

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SREITHINES
, /PRNewswire/ -- A joint venture between an affiliate of Starwood Capital Group, a global private investment firm with a primary focus on real estate, and an affiliate of Land Strategies Management (DBA Starwood Land), announced today that it has completed the acquisition of a portfolio of master-planned communities in Texas from Hines, a global real estate investment manager, for approximately $800 million.  The acquisition comprises 11 master-planned communities that are in advanced stages of development, with more than 16,000 remaining residential lots and over 600 acres of commercial land, across three of the ten largest U.S. new home markets: Dallas, Houston, and Austin. The communities are all located in high-growth submarkets with established track records of strong homebuilder activity. The developments include: Dallas – Wildflower Ranch, Creekside, Aster Park, Northspur, Myrtle Creek, Furst Ranch, and Redden Farms; Houston – Brookewater, Creekhaven, and Wildrye; Austin – Mirador. "This is a high-quality portfolio created by a first-class investment manager and developer, and we plan to build upon the excellent work Hines has completed to-date and bring the development vision for these communities to fruition," said Mike Moser, CEO of Starwood Land. "We look forward to engaging with homebuilders to expand the communities' offerings." Anthony Murphy, Managing Director at Starwood Capital, said, "This investment continues Starwood Capital's strategy of acquiring well-located master-planned communities in the largest new home markets to capitalize on compelling long-term residential land fundamentals. It presents a rare opportunity to acquire a large portfolio of mature communities with major infrastructure substantially completed and active lot sales to over 30 homebuilders." Ray Lawler, Managing Partner, Head of Americas at Hines said: "This transaction showcases the deep investment appetite for well-located, master- planned communities that deliver much-needed housing to high-growth markets, and capitalizing on tailwinds in the living sector. Single-family housing, and the living sector generally, is a high-conviction investment theme for Hines globally. We are delighted with the success of this deal, which enables us to continue to build our market-leading Living portfolio across the world, on behalf of our clients." Additional involved partners with Hines include Trez Capital – who is a partner on nine of the communities –Caravel Ventures, Bloomfield Homes, Sumitomo Forestry America, Estein USA, and GMcivil. "These are exceptional developments in high-growth Texan markets, and Hines has done an outstanding job delivering well-positioned, high-quality communities," said John D. Hutchinson, co-CEO and global head of origination at Trez Capital. "We look forward to seeing these communities continue to thrive under Starwood's stewardship." 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 $80 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 $98 billion of capital since inception and manages a portfolio of over $26 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 Hines Hines is a leading global real estate investment manager. We own and operate $90.1 billion¹ of assets across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 5,000 employees in 30 countries draw on our 68-year history to build the world forward by investing in, developing, and managing some of the world's best real estate. To learn more, visit www.hines.com and follow @Hines on social media. ¹Includes both the global Hines organization and RIA AUM as of December 31, 2024. Media Contacts: H/Advisors Abernathy Tom Johnson: [email protected], (212) 371-5999Dan Scorpio, [email protected], (646) 899-8118 SOURCE Starwood Capital Group WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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