Starwood REIT Q1 same-property NOI +7% YoY; sold $1.8B assets at $335M profit

Starwood Real Estate Income Trust, Inc.

2024-Q1 EPS reported -$0.19 revenue$424,050,000

Same-property NOI for Q1 2024 was $240.8M, up $15.0M or 7% YoY from $225.8M in Q1 2023.
Net loss improved to $86.3M from $325.2M in Q1 2023, driven by no impairment in 2024 vs $79.8M in 2023.
Since Q2 2023, sold ~$1.8B of multifamily, industrial and real estate loans, generating $335M profit and 14% IRR; 85% of GAV.
As of April 30, 2024, liquidity of $752M (8% of NAV): $446M cash, $275M undrawn line (extended for 3 years), $31M liquid securities.
Multifamily and industrial asset sales achieved 17% IRR and 1.7x multiple on invested capital.

item 2.02 item 7.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Starwood Real Estate Income Trust, Inc. reported three months ended March 31, 2024 results: net income $(86,286).

Period: three months ended March 31, 2024
Net income: $(86,286)
Result: reported results

Exact text from the filing

On May 16, 2024, Starwood Real Estate Income Trust, Inc., a Maryland corporation (the “Company”), announced unaudited same property net operating income (“NOI”) for the three months ended March 31, 2024.

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Source: SEC EDGAR

accession 0001193125-24-140744

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