Billionaire Barry Sternlicht. — Bloomberg
BILLIONAIRE Barry Sternlicht is convinced the real estate market will rebound with just a bit more time. Many investors in his US$10bil Starwood Real Estate Income Trust aren’t so sure – and want their money back now.
That tension, between Starwood Capital Group’s chief executive who hates the idea of selling properties at their lows and investors who hate the idea of having their money trapped, reached a tipping point recently.
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