other material
confidence high
sentiment neutral
materiality 0.65
Starwood Real Estate Income Trust launches DST Program for private placement of real property interests
Starwood Real Estate Income Trust, Inc.
- DST Program issues beneficial interests in Delaware statutory trusts holding real properties to accredited investors under Rule 506(b).
- Operating Partnership retains FMV Option to acquire DST Interests after 2 years in exchange for OP units or cash.
- Advisory fee modified: 1.25% of Company NAV plus 1.25% of aggregate DST Property Consideration; OP pays 1.25% of unitholder OP NAV.
- Partnership Agreement creates Class S-1 and D-1 OP units with investor servicing fees (0.85% and 0.25% p.a. of NAV, respectively).
- Distribution reinvestment plan extended to OP unit holders; dividends used to purchase corresponding class of common stock.