News

November 2018

Starwood Capital Group announces BTR platform

Starwood Capital Group, a leading global private investment firm, today announced that a controlled affiliate has formed a new build-to-rent residential platform in Ireland with Urbeo and the Ireland Strategic Investment Fund.

The platform – which will be known as Urbeo – will acquire, predominantly via forward purchase and forward funding arrangements, rental accommodation with an element of social and supported tenancies in Dublin and other major Irish cities. The platform will be seeded with a portfolio of 3 assets totaling 334 private and social units in Dublin, with a pipeline of over 2,500 units in negotiation or exclusivity.

Urbeo, founded by Frank Kenny and Bill Nowlan, is focused on matching investor needs for long-term, stable returns with those of tenants to build stable and sustainable communities of rental housing

Urbeo will seek to partner with builders, developers, and housing associations to deliver new rental housing projects in well-serviced locations, with good connectivity to employment centers.

Starwood Capital has invested in more than 30 countries around the world, including across the Americas, Europe and Asia, and has extensive experience in multifamily real estate. Starwood Capital’s portfolio includes approximately 74,000 multifamily units under management. It is one of the largest owners of market-rate multifamily housing in the United States with properties in Florida, Colorado, Washington D.C., Washington and California. Starwood Capital will invest in this new platform through Starwood Global Opportunity Fund XI, the firm’s 11th opportunistic real estate fund, which closed in April 2018 with commitments surpassing $7.5 billion and noteworthy investments in multifamily real estate. Urbeo, founded by Frank Kenny and Bill Nowlan, is focused on matching investor needs for long-term, stable returns with those of tenants to build stable and sustainable communities of rental housing.

Urbeo will seek to partner with builders, developers, and housing associations to deliver new rental housing projects in well-serviced locations, with good connectivity to employment centers.

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