Starwood Capital To Raise Up to $800M in IPO

Starwood Capital originally planned to raise up to $500M in an IPO to acquire commercial real estate assets, but has now decided to increase the size of the offering to $800M. This is interesting for two reasons. The first is that it signals that the big players are getting ready to come off the bench to take advantage of government programs to acquire debt and property. The second, relates to it upping the size of the IPO from $500M to $800M, a clear signal that the demand for what is perceived to be quality sponsorship (Pacific Shores Center acquisition and near acquisition of Mission West, notwithstanding).

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