Starwood Capital Group
3 Pickwick Plaza, Suite 250, Greenwich, Conn. 06830; phone: (203) 861-2100; fax: (203) 861-2101; Web site: www.starwood.com
($ millions)
Tax-exempt real estate assets 930
Equity 189
Mezzanine 598
Mortgages 143
Commingled or pooled funds
Equity 189
Mezzanine 598
Mortgages 143
Total real estate assets 4,481
Equity 3,740
Mezzanine 598
Mortgages 143
As of June 30, Starwood Capital Group L.L.C. had $930 million in U.S. institutional tax-exempt real estate assets, all of which were in fully discretionary accounts.
The tax-exempt equity assets had a market value of $81 million as of June 30. Contributions committed but not received were $108 million.
Of the U.S. tax-exempt assets, 92% were in existing, and 8% in developmental, properties. The property mix was 36% hotel/resort, 38% office/commercial, and 26% residential land and mixed-use projects.
The geographic mix was 54% West, 1% Midwest, 27% East and 18% South.
Barry S. Sternlicht is the chief investment officer; Elizabeth Behnke is the client contact.
UBS Resource
Investments International
Trade Center, Box 24 Airport Road, West Lebanon, N.H. 03784; phone: (603) 298-7001; fax: (603) 298-7620
($ millions)
Tax-exempt real estate assets 1,270
Equity 1,270
Commingled or pooled funds
Equity 1,270
Total real estate assets 1,270
Equity 1,270
As of June 30, UBS Resource Investments International had $1.27 billion in U.S. institutional tax-exempt real estate assets, all of which were in fully discretionary accounts.
The tax-exempt equity assets had a market value of $1.004 billion as of June 30.
Contributions committed but not received were $266 million.
Of the U.S. tax-exempt assets, 100% were in existing properties. The property mix was 100% timber/agriculture. The geographic mix was 1% West, 2% East, 47% South, and 50% New Zealand and Chile.
The parent company is UBS Asset Management.
Peter Mertz is the chief investment officer; Christopher Broom is the client contact.
The Union Labor Life
Insurance Co.
111 Massachusetts Ave. N.W., Washington, D.C. 20001; phone: (202) 682-0900; fax: (202) 962-8430
($ millions)
Tax-exempt real estate assets 854
Mortgages 854
Commingled or pooled funds
Mortgages 854
Total real estate assets 854
Mortgages 854
As of June 30, The Union Labor Life Insurance Co. had $854 million in U.S. institutional tax-exempt real estate assets, all of which were in fully discretionary accounts.
Of the U.S. tax-exempt assets, 3% were in existing, and 97% in developmental, properties. The property mix was 1.61% hotel/resort, 12.38% industrial, 0.02% single-family housing, 16.33% multifamily housing, 39.08% office/commercial, 29.6% retail and 0.98% timber/agriculture. The geographic mix was 26.16% West, 26.86% Midwest, 35.29% East and 11.69% South.
The parent company is ULLICO Inc.
Michael R. Steed is the chief investment officer; Kenneth Hartman is the client contact.
Westbrook Partners L.L.C.
599 Lexington Ave., Suite 3800, New York, N.Y. 10022; phone: (212) 849-8877; fax: (212) 849-8801
($ millions)
Tax-exempt real estate assets 1,614
Equity 1,398
REITs 40
Hybrid debt 86
Mezzanine 35
Mortgages 49
Commercial mortgage-backeds 6
Commingled or pooled funds
Equity 1,398
REITs 40
Hybrid debt 86
Mezzanine 35
Mortgages 49
Commercial mortgage-backeds 6
Total real estate assets 1,614
Equity 1,398
REITs 40
Hybrid debt 86
Mezzanine 35
Mortgages 49
Commercial mortgage-backeds 6
As of June 30, Westbrook Partners L.L.C. had $1.614 billion in U.S. institutional tax-exempt real estate assets, all of which were in fully discretionary accounts.
The tax-exempt equity assets had a market value of $655 million as of June 30. Contributions committed but not received were $743 million.
Of the U.S. tax-exempt assets, 65% were in existing, and 35% in developmental, properties. The property mix was 23% hotel/resort, 2% industrial, 12% multifamily housing, 18% office/commercial, 5% retail and 40% single-family housing. The geographic mix was 17% West, 5% Midwest, 13% Southwest, 28% California, 5% Northeast, 10% Mid-Atlantic and 22% Southeast.
Rachel V. Brannan is the chief investment officer; Mary I. Harris is the client contact.
