Starwood Real Estate Income Trust, Inc.

Data through 2026-08-03 · latest filing 8-K filed 2026-08-04

Sponsored by Starwood. REIT structure focused on private real estate.

REITPrivate Real Estate

Sponsor: Starwood
CIK: 0001711929
Liquidity: Share repurchase plan
Inception: 2017

Net assets: $4.06B

source

Quarterly report (Form 10-Q) · filed 2026-05-11 · period 2026-03-31

charter net assets = us-gaap:Assets 18,744,559,000 - us-gaap:Liabilities 14,680,344,000 = 4,064,215,000

Method Matched text template against the filing

Open the filing on SEC.gov · Full observation history

Technical locator

charter net assets = us-gaap:Assets 18,744,559,000 - us-gaap:Liabilities 14,680,344,000 = 4,064,215,000 | accession 0001193125-26-216496 | 10-Q filed 2026-05-11
NAV / share: $19.52

source

Prospectus supplement (Form 424B3) · filed 2026-07-17 · period 2026-06-30

424B3 monthly pricing supplement (transaction price = NAV/share per its own text)

“to disclose the calculation of our June 30, 2026 NAV per share ... Transaction Price (per share) Class S $ 19.69 Class T $ 19.70 Class D $ 19.27 Class I $ 19.52 ”

Method Matched text template against the filing

Open the filing on SEC.gov · Full observation history

Technical locator

https://www.sec.gov/Archives/edgar/data/1711929/000119312526307255/ck0001711929-20260717.htm | 424B3 monthly pricing supplement (transaction price = NAV/share per its own text)
Net flows, last qtr: -2.9%
Distribution coverage (reported FFO): 68%
Annualized distribution rate: 4.73%
Trailing 12-month distribution rate: 5.96%
Leverage in use: 99%
Total return, 12m: -1.1%

01 / Signals

What changed in the latest filings.

Current findings ordered by severity. Each observation remains traceable to its filed source.

Red flag

Redemptions prorated for the period ending 2026-03-31: only 3.0% of requests fulfilled. (2026-03-31)

Redemptions prorated for the period ending 2026-03-31: only 3.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Why it matters and what changed

Redemption requests exceeded the offer and were paid only in part, pro rata. Investors who wanted out are still holding; unmet demand usually rolls into the next offer, making repeat proration -- the defining liquidity-stress pattern for a semi-liquid fund -- worth watching for.

Occurrence event; see the filing text for terms vs the prior arrangement.

Source: https://www.sec.gov/Archives/edgar/data/1711929/000119312526216496/ck0001711929-20260331.htm | redemption proration (2026-03-31)

Red flag

The fund is at or near its allowed leverage limit (99% of permitted leverage in use as of 2026-03-31) (GAAP-equity approximation of a cost-basis charter test; the fund's own NASAA calculation may show compliance).

The fund is at or near its allowed leverage limit (99% of permitted leverage in use as of 2026-03-31) (GAAP-equity approximation of a cost-basis charter test; the fund's own NASAA calculation may show compliance). (Rule B8: Leverage headroom critical: headroom < 5% or ceiling breach; Urgent.)

Why it matters and what changed

The fund is essentially at or beyond its permitted leverage. This can force asset sales at bad prices or halt distributions/repurchases; for a BDC it is a statutory line, not a preference.

8.27 -> 1.28 (down 84.6% vs prior period); trailing 4-period average 11.42; same period prior year 26.02; comparison interval: ~3 months (2025-12-31 -> 2026-03-31; this fund's series is observed at that frequency, so 'month over month' rules compare consecutive observations)

Source: derived: (ceiling 300.0% of net assets - leverage 296.2%, denominator = charter net assets (total assets - total liabilities) 4,064,215,000) / ceiling * 100

Red flag

Redemption requests ran at least twice the tender offer's capacity; only 3% of tendered shares were repurchased (offer expired 2026-03-31).

Redemption requests ran at least twice the tender offer's capacity; only 3% of tendered shares were repurchased (offer expired 2026-03-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Why it matters and what changed

Redemption requests ran at least twice the offer capacity. At this level pro-ration is severe and shareholder liquidity is materially constrained right now, not hypothetically.

current level 3.00 (no prior-period value stored)

Source: https://www.sec.gov/Archives/edgar/data/1711929/000119312526216496/ck0001711929-20260331.htm | redemption disclosure (redemption_fill_rate)

Red flag

Redemptions prorated for the period ending 2026-02-28: only 3.0% of requests fulfilled. (2026-02-28)

Redemptions prorated for the period ending 2026-02-28: only 3.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Why it matters and what changed

Occurrence event; see the filing text for terms vs the prior arrangement.

Source: https://www.sec.gov/Archives/edgar/data/1711929/000119312526216496/ck0001711929-20260331.htm | redemption proration (2026-02-28)

Red flag

Redemption requests ran at least twice the tender offer's capacity; only 3% of tendered shares were repurchased (offer expired 2026-02-28).

Redemption requests ran at least twice the tender offer's capacity; only 3% of tendered shares were repurchased (offer expired 2026-02-28). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Why it matters and what changed

Redemption requests ran at least twice the offer capacity. At this level pro-ration is severe and shareholder liquidity is materially constrained right now, not hypothetically.

current level 3.00 (no prior-period value stored)

Source: https://www.sec.gov/Archives/edgar/data/1711929/000119312526216496/ck0001711929-20260331.htm | redemption disclosure (redemption_fill_rate)

Red flag

Redemptions prorated for the period ending 2026-01-31: only 3.0% of requests fulfilled. (2026-01-31)

Redemptions prorated for the period ending 2026-01-31: only 3.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Why it matters and what changed

Occurrence event; see the filing text for terms vs the prior arrangement.

Source: https://www.sec.gov/Archives/edgar/data/1711929/000119312526216496/ck0001711929-20260331.htm | redemption proration (2026-01-31)

Red flag

Redemption requests ran at least twice the tender offer's capacity; only 3% of tendered shares were repurchased (offer expired 2026-01-31).

Redemption requests ran at least twice the tender offer's capacity; only 3% of tendered shares were repurchased (offer expired 2026-01-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Why it matters and what changed

Redemption requests ran at least twice the offer capacity. At this level pro-ration is severe and shareholder liquidity is materially constrained right now, not hypothetically.

current level 3.00 (no prior-period value stored)

Source: https://www.sec.gov/Archives/edgar/data/1711929/000119312526216496/ck0001711929-20260331.htm | redemption disclosure (redemption_fill_rate)

Red flag

The fund is at or near its allowed leverage limit (101% of permitted leverage in use as of 2025-12-31) (GAAP-equity approximation of a cost-basis charter test; the fund's own NASAA calculation may show compliance).

The fund is at or near its allowed leverage limit (101% of permitted leverage in use as of 2025-12-31) (GAAP-equity approximation of a cost-basis charter test; the fund's own NASAA calculation may show compliance). (Rule B8: Leverage headroom critical: headroom < 5% or ceiling breach; Urgent.)

Why it matters and what changed

The fund is essentially at or beyond its permitted leverage. This can force asset sales at bad prices or halt distributions/repurchases; for a BDC it is a statutory line, not a preference.

swung from 6.79 to -0.95 vs prior period; trailing 4-period average 9.94; same period prior year 18.85; comparison interval: ~3 months (2025-09-30 -> 2025-12-31; this fund's series is observed at that frequency, so 'month over month' rules compare consecutive observations)

Source: derived: (ceiling 300.0% of net assets - leverage 275.2%, denominator = charter net assets (total assets - total liabilities) 4,367,591,000) / ceiling * 100

Red flag

Redemptions prorated for the period ending 2025-09-30: only 4.0% of requests fulfilled. (2025-09-30)

Redemptions prorated for the period ending 2025-09-30: only 4.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Why it matters and what changed

Occurrence event; see the filing text for terms vs the prior arrangement.

Source: https://www.sec.gov/Archives/edgar/data/1711929/000119312525277275/ck0001711929-20250930.htm | redemption proration (2025-09-30)

Red flag

Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2025-09-30).

Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2025-09-30). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Why it matters and what changed

Redemption requests ran at least twice the offer capacity. At this level pro-ration is severe and shareholder liquidity is materially constrained right now, not hypothetically.

current level 4.00 (no prior-period value stored)

Source: https://www.sec.gov/Archives/edgar/data/1711929/000119312525277275/ck0001711929-20250930.htm | redemption disclosure (redemption_fill_rate)

Red flag

Redemptions prorated for the period ending 2025-08-31: only 4.0% of requests fulfilled. (2025-08-31)

Redemptions prorated for the period ending 2025-08-31: only 4.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Why it matters and what changed

Occurrence event; see the filing text for terms vs the prior arrangement.

Source: https://www.sec.gov/Archives/edgar/data/1711929/000119312525277275/ck0001711929-20250930.htm | redemption proration (2025-08-31)

Red flag

Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2025-08-31).

Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2025-08-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Why it matters and what changed

Redemption requests ran at least twice the offer capacity. At this level pro-ration is severe and shareholder liquidity is materially constrained right now, not hypothetically.

current level 4.00 (no prior-period value stored)

Source: https://www.sec.gov/Archives/edgar/data/1711929/000119312525277275/ck0001711929-20250930.htm | redemption disclosure (redemption_fill_rate)

Yellow flag

Other Events. (2026-04-29)

em 8.01. Other Events. Share Repurchase Plan Effective April 29, 2026, the Company’s board of directors (the “ Board ”) amended the Company’s share repurchase plan (the “ SRP ”), beginning with repurchases submitted during the month of April 2026 such that (i) repurchase requests made upon the death or qualifying disability of a stockholder who is a natural person will be repurchased in full to th

Why it matters and what changed

The rules governing how investors exit changed. For a semi-liquid fund the repurchase program IS the liquidity; any change to caps, frequency, or pricing deserves a direct read.

Occurrence event; see the filing text for terms vs the prior arrangement.

Source: https://www.sec.gov/Archives/edgar/data/1711929/000119312526192168/ck0001711929-20260429.htm | Item 8.01

Yellow flag

Net flows deteriorated to $-117.1M from $-128.4M (period ended 2026-03-31).

Net flows deteriorated to $-117.1M from $-128.4M (period ended 2026-03-31). (Rule C15: Net-flow deterioration: net flows negative; Notify.)

Why it matters and what changed

The fund is shrinking: money going out exceeds money coming in. Persistent negative net flows change the fund's behavior (what it can buy, what it must sell) even before any gate is near.

$-128.4M -> $-117.1M (up 8.8% vs prior period); trailing 4-period average $-118.8M; same period prior year $-80.3M; breach persisted 14 consecutive periods (escalated per the two-stage ladder); comparison interval: ~3 months (2025-12-31 -> 2026-03-31; this fund's series is observed at that frequency, so 'month over month' rules compare consecutive observations)

Source: derived: gross_share_sales + drip_reinvestment - shares_redeemed_dollars

Yellow flag

The fund leaned harder on leverage: 92% -> 99% of its allowed leverage in use in one period (period ended 2026-03-31).

The fund leaned harder on leverage: 92% -> 99% of its allowed leverage in use in one period (period ended 2026-03-31). (Rule C22: Leverage creep: headroom down >= 5 percentage points in one period; Notify.)

Why it matters and what changed

The fund leaned meaningfully harder on its leverage in a single period. Even far from the ceiling, the direction and speed of travel matter; creep compounds quietly.

8.27 -> 1.28 (down 84.6% vs prior period); trailing 4-period average 11.42; same period prior year 26.02; breach persisted 3 consecutive periods (escalated per the two-stage ladder); comparison interval: ~3 months (2025-12-31 -> 2026-03-31; this fund's series is observed at that frequency, so 'month over month' rules compare consecutive observations)

Source: derived: (ceiling 300.0% of net assets - leverage 296.2%, denominator = charter net assets (total assets - total liabilities) 4,064,215,000) / ceiling * 100

Yellow flag

FFO covered only 57% of distributions in the period ended 2026-03-31; the gap was funded from capital or gains.

FFO covered only 57% of distributions in the period ended 2026-03-31; the gap was funded from capital or gains. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

Why it matters and what changed

Distributions exceed FFO (funds from operations, the standard REIT earnings measure that adds real-estate depreciation back to net income). The gap is funded from capital or gains, and a stated yield propped up this way is fragile -- the same read as C21, on the earnings concept that actually applies to a real-estate distributing vehicle.

24.08 -> 57.27 (up 137.8% vs prior period); trailing 4-period average 15.74; same period prior year -12.11; breach persisted 14 consecutive periods (escalated per the two-stage ladder); comparison interval: ~3 months (2025-12-31 -> 2026-03-31; this fund's series is observed at that frequency, so 'month over month' rules compare consecutive observations)

Source: derived: ffo / distributions_declared * 100 (windows matched on both ends)

Yellow flag

Net flows deteriorated to $-128.4M from $-132.6M (period ended 2025-12-31).

Net flows deteriorated to $-128.4M from $-132.6M (period ended 2025-12-31). (Rule C15: Net-flow deterioration: net flows negative; Notify.)

Why it matters and what changed

The fund is shrinking: money going out exceeds money coming in. Persistent negative net flows change the fund's behavior (what it can buy, what it must sell) even before any gate is near.

$-132.6M -> $-128.4M (up 3.2% vs prior period); trailing 4-period average $-109.6M; same period prior year $-92.2M; breach persisted 13 consecutive periods (escalated per the two-stage ladder); comparison interval: ~3 months (2025-09-30 -> 2025-12-31; this fund's series is observed at that frequency, so 'month over month' rules compare consecutive observations)

Source: derived: gross_share_sales + drip_reinvestment - shares_redeemed_dollars

Yellow flag

On December 31, 2025, Andres Panza resigned as Head of Asset & Portfolio Management and director of Starwood Real Estate Income Trust, Inc. (2025-12-31)

On December 31, 2025, Andres Panza resigned as Head of Asset & Portfolio Management and director of Starwood Real Estate Income Trust, Inc. (the “Company”), effective immediately. Mr. Panza’s resignation was not due to any disagreement with the Company, its advisor or any of its affiliates. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf

Why it matters and what changed

Key-person changes at externally managed funds are one of the few governance signals these structures emit. A single departure is usually routine; a pattern (or a departure near other stress signals) is not.

Occurrence event; see the filing text for terms vs the prior arrangement.

Source: https://www.sec.gov/Archives/edgar/data/1711929/000119312526005534/ck0001711929-20251231.htm | Item 5.02

Yellow flag

The fund leaned harder on leverage: 85% -> 92% of its allowed leverage in use in one period (period ended 2025-12-31).

The fund leaned harder on leverage: 85% -> 92% of its allowed leverage in use in one period (period ended 2025-12-31). (Rule C22: Leverage creep: headroom down >= 5 percentage points in one period; Notify.)

Why it matters and what changed

The fund leaned meaningfully harder on its leverage in a single period. Even far from the ceiling, the direction and speed of travel matter; creep compounds quietly.

14.87 -> 8.27 (down 44.4% vs prior period); trailing 4-period average 17.60; same period prior year 25.05; breach persisted 2 consecutive periods (escalated per the two-stage ladder); comparison interval: ~3 months (2025-09-30 -> 2025-12-31; this fund's series is observed at that frequency, so 'month over month' rules compare consecutive observations)

Source: derived: (ceiling 300.0% of net assets - leverage 275.2%, denominator = charter net assets (total assets - total liabilities) 4,367,591,000) / ceiling * 100

Yellow flag

FFO covered only 24% of distributions in the period ended 2025-12-31; the gap was funded from capital or gains.

FFO covered only 24% of distributions in the period ended 2025-12-31; the gap was funded from capital or gains. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

Why it matters and what changed

11.33 -> 24.08 (up 112.5% vs prior period); trailing 4-period average -1.61; same period prior year -35.17; breach persisted 13 consecutive periods (escalated per the two-stage ladder); comparison interval: ~3 months (2025-09-30 -> 2025-12-31; this fund's series is observed at that frequency, so 'month over month' rules compare consecutive observations)

Source: derived: ffo / distributions_declared * 100 (windows matched on both ends)

Yellow flag

Net flows deteriorated to $-132.6M from $-97.2M (period ended 2025-09-30).

Net flows deteriorated to $-132.6M from $-97.2M (period ended 2025-09-30). (Rule C15: Net-flow deterioration: net flows negative; Notify.)

Why it matters and what changed

The fund is shrinking: money going out exceeds money coming in. Persistent negative net flows change the fund's behavior (what it can buy, what it must sell) even before any gate is near.

$-97.2M -> $-132.6M (down 36.5% vs prior period); trailing 4-period average $-100.6M; same period prior year $-95.8M; breach persisted 12 consecutive periods (escalated per the two-stage ladder); comparison interval: ~3 months (2025-06-30 -> 2025-09-30; this fund's series is observed at that frequency, so 'month over month' rules compare consecutive observations)

Source: derived: gross_share_sales + drip_reinvestment - shares_redeemed_dollars

Yellow flag

The fund is using 85% of its allowed leverage as of 2025-09-30 (GAAP-equity approximation of a cost-basis charter test; the fund's own NASAA calculation may show compliance).

The fund is using 85% of its allowed leverage as of 2025-09-30 (GAAP-equity approximation of a cost-basis charter test; the fund's own NASAA calculation may show compliance). (Rule B7: Leverage headroom floor: headroom < 15% of ceiling; Notify.)

Why it matters and what changed

The fund is operating close to its permitted leverage (over ~87% of what its ceiling allows). The cushion protecting it from a forced deleveraging or covenant problem is thin.

21.26 -> 14.87 (down 30.1% vs prior period); trailing 4-period average 21.80; same period prior year 27.86; comparison interval: ~3 months (2025-06-30 -> 2025-09-30; this fund's series is observed at that frequency, so 'month over month' rules compare consecutive observations)

Source: derived: (ceiling 300.0% of net assets - leverage 255.4%, denominator = charter net assets (total assets - total liabilities) 4,714,855,000) / ceiling * 100

Yellow flag

FFO covered only 11% of distributions in the period ended 2025-09-30; the gap was funded from capital or gains.

FFO covered only 11% of distributions in the period ended 2025-09-30; the gap was funded from capital or gains. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

Why it matters and what changed

swung from -29.72 to 11.33 vs prior period; trailing 4-period average -16.42; same period prior year -113.58; breach persisted 12 consecutive periods (escalated per the two-stage ladder); comparison interval: ~3 months (2025-06-30 -> 2025-09-30; this fund's series is observed at that frequency, so 'month over month' rules compare consecutive observations)

Source: derived: ffo / distributions_declared * 100 (windows matched on both ends)

Historical findings (115)

Redemptions prorated for the period ending 2025-07-31: only 4.0% of requests fulfilled. (2025-07-31)
Redemptions prorated for the period ending 2025-07-31: only 4.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2025-07-31).
Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2025-07-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2025-06-30: only 4.0% of requests fulfilled. (2025-06-30)
Redemptions prorated for the period ending 2025-06-30: only 4.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2025-06-30).
Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2025-06-30). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2025-05-31: only 3.0% of requests fulfilled. (2025-05-31)
Redemptions prorated for the period ending 2025-05-31: only 3.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 3% of tendered shares were repurchased (offer expired 2025-05-31).
Redemption requests ran at least twice the tender offer's capacity; only 3% of tendered shares were repurchased (offer expired 2025-05-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2025-04-30: only 3.0% of requests fulfilled. (2025-04-30)
Redemptions prorated for the period ending 2025-04-30: only 3.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 3% of tendered shares were repurchased (offer expired 2025-04-30).
Redemption requests ran at least twice the tender offer's capacity; only 3% of tendered shares were repurchased (offer expired 2025-04-30). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2025-02-28: only 4.0% of requests fulfilled. (2025-02-28)
Redemptions prorated for the period ending 2025-02-28: only 4.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2025-02-28).
Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2025-02-28). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2025-01-31: only 4.0% of requests fulfilled. (2025-01-31)
Redemptions prorated for the period ending 2025-01-31: only 4.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2025-01-31).
Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2025-01-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2024-11-30: only 4.0% of requests fulfilled. (2024-11-30)
Redemptions prorated for the period ending 2024-11-30: only 4.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2024-11-30).
Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2024-11-30). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2024-10-31: only 4.0% of requests fulfilled. (2024-10-31)
Redemptions prorated for the period ending 2024-10-31: only 4.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2024-10-31).
Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2024-10-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2024-08-31: only 4.0% of requests fulfilled. (2024-08-31)
Redemptions prorated for the period ending 2024-08-31: only 4.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2024-08-31).
Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2024-08-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2024-07-31: only 4.0% of requests fulfilled. (2024-07-31)
Redemptions prorated for the period ending 2024-07-31: only 4.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2024-07-31).
Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2024-07-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2024-06-30: only 4.0% of requests fulfilled. (2024-06-30)
Redemptions prorated for the period ending 2024-06-30: only 4.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2024-06-30).
Redemption requests ran at least twice the tender offer's capacity; only 4% of tendered shares were repurchased (offer expired 2024-06-30). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2024-05-31: only 3.0% of requests fulfilled. (2024-05-31)
Redemptions prorated for the period ending 2024-05-31: only 3.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 3% of tendered shares were repurchased (offer expired 2024-05-31).
Redemption requests ran at least twice the tender offer's capacity; only 3% of tendered shares were repurchased (offer expired 2024-05-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2024-04-30: only 37.0% of requests fulfilled. (2024-04-30)
Redemptions prorated for the period ending 2024-04-30: only 37.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 37% of tendered shares were repurchased (offer expired 2024-04-30).
Redemption requests ran at least twice the tender offer's capacity; only 37% of tendered shares were repurchased (offer expired 2024-04-30). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2024-03-31: only 24.0% of requests fulfilled. (2024-03-31)
Redemptions prorated for the period ending 2024-03-31: only 24.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 24% of tendered shares were repurchased (offer expired 2024-03-31).
Redemption requests ran at least twice the tender offer's capacity; only 24% of tendered shares were repurchased (offer expired 2024-03-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2024-02-29: only 40.0% of requests fulfilled. (2024-02-29)
Redemptions prorated for the period ending 2024-02-29: only 40.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 40% of tendered shares were repurchased (offer expired 2024-02-29).
Redemption requests ran at least twice the tender offer's capacity; only 40% of tendered shares were repurchased (offer expired 2024-02-29). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2024-01-31: only 48.0% of requests fulfilled. (2024-01-31)
Redemptions prorated for the period ending 2024-01-31: only 48.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 48% of tendered shares were repurchased (offer expired 2024-01-31).
Redemption requests ran at least twice the tender offer's capacity; only 48% of tendered shares were repurchased (offer expired 2024-01-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2023-12-31: 2.9% requested, only 37.9% of requests fulfilled. (2023-12-31)
Redemptions prorated for the period ending 2023-12-31: 2.9% requested, only 37.9% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 38% of tendered shares were repurchased (offer expired 2023-12-31).
Redemption requests ran at least twice the tender offer's capacity; only 38% of tendered shares were repurchased (offer expired 2023-12-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2023-11-30: 3.8% requested, only 52.5% of requests fulfilled. (2023-11-30)
Redemptions prorated for the period ending 2023-11-30: 3.8% requested, only 52.5% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Tender offer filled only 52% of shares tendered (pro-rated); redemption requests exceeded the offer size -- the second consecutive oversubscribed offer (expired 2023-11-30).
Tender offer filled only 52% of shares tendered (pro-rated); redemption requests exceeded the offer size -- the second consecutive oversubscribed offer (expired 2023-11-30). (Rule B4: Repeated redemption oversubscription: two or more oversubscribed offers within a trailing 12 months; Urgent.)

Redemptions prorated for the period ending 2023-10-31: 4.5% requested, only 44.9% of requests fulfilled. (2023-10-31)
Redemptions prorated for the period ending 2023-10-31: 4.5% requested, only 44.9% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 45% of tendered shares were repurchased (offer expired 2023-10-31).
Redemption requests ran at least twice the tender offer's capacity; only 45% of tendered shares were repurchased (offer expired 2023-10-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2023-09-30: 3.3% requested, only 31.3% of requests fulfilled. (2023-09-30)
Redemptions prorated for the period ending 2023-09-30: 3.3% requested, only 31.3% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 31% of tendered shares were repurchased (offer expired 2023-09-30).
Redemption requests ran at least twice the tender offer's capacity; only 31% of tendered shares were repurchased (offer expired 2023-09-30). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2023-08-31: 3.9% requested, only 51.3% of requests fulfilled. (2023-08-31)
Redemptions prorated for the period ending 2023-08-31: 3.9% requested, only 51.3% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Tender offer filled only 51% of shares tendered (pro-rated); redemption requests exceeded the offer size -- the second consecutive oversubscribed offer (expired 2023-08-31).
Tender offer filled only 51% of shares tendered (pro-rated); redemption requests exceeded the offer size -- the second consecutive oversubscribed offer (expired 2023-08-31). (Rule B4: Repeated redemption oversubscription: two or more oversubscribed offers within a trailing 12 months; Urgent.)

Redemptions prorated for the period ending 2023-07-31: 3.6% requested, only 55.3% of requests fulfilled. (2023-07-31)
Redemptions prorated for the period ending 2023-07-31: 3.6% requested, only 55.3% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Tender offer filled only 55% of shares tendered (pro-rated); redemption requests exceeded the offer size -- the second consecutive oversubscribed offer (expired 2023-07-31).
Tender offer filled only 55% of shares tendered (pro-rated); redemption requests exceeded the offer size -- the second consecutive oversubscribed offer (expired 2023-07-31). (Rule B4: Repeated redemption oversubscription: two or more oversubscribed offers within a trailing 12 months; Urgent.)

Redemptions prorated for the period ending 2023-06-30: 3.2% requested, only 32.9% of requests fulfilled. (2023-06-30)
Redemptions prorated for the period ending 2023-06-30: 3.2% requested, only 32.9% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 33% of tendered shares were repurchased (offer expired 2023-06-30).
Redemption requests ran at least twice the tender offer's capacity; only 33% of tendered shares were repurchased (offer expired 2023-06-30). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2023-05-31: 4.2% requested, only 47.8% of requests fulfilled. (2023-05-31)
Redemptions prorated for the period ending 2023-05-31: 4.2% requested, only 47.8% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 48% of tendered shares were repurchased (offer expired 2023-05-31).
Redemption requests ran at least twice the tender offer's capacity; only 48% of tendered shares were repurchased (offer expired 2023-05-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2023-04-30: 4.2% requested, only 47.7% of requests fulfilled. (2023-04-30)
Redemptions prorated for the period ending 2023-04-30: 4.2% requested, only 47.7% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 48% of tendered shares were repurchased (offer expired 2023-04-30).
Redemption requests ran at least twice the tender offer's capacity; only 48% of tendered shares were repurchased (offer expired 2023-04-30). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2023-03-31: 3.3% requested, only 30.4% of requests fulfilled. (2023-03-31)
Redemptions prorated for the period ending 2023-03-31: 3.3% requested, only 30.4% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 30% of tendered shares were repurchased (offer expired 2023-03-31).
Redemption requests ran at least twice the tender offer's capacity; only 30% of tendered shares were repurchased (offer expired 2023-03-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2023-02-28: 4.0% requested, only 49.6% of requests fulfilled. (2023-02-28)
Redemptions prorated for the period ending 2023-02-28: 4.0% requested, only 49.6% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 50% of tendered shares were repurchased (offer expired 2023-02-28).
Redemption requests ran at least twice the tender offer's capacity; only 50% of tendered shares were repurchased (offer expired 2023-02-28). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2023-01-31: 5.2% requested, only 38.6% of requests fulfilled. (2023-01-31)
Redemptions prorated for the period ending 2023-01-31: 5.2% requested, only 38.6% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 39% of tendered shares were repurchased (offer expired 2023-01-31).
Redemption requests ran at least twice the tender offer's capacity; only 39% of tendered shares were repurchased (offer expired 2023-01-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2022-12-31: 4.2% requested, only 20.0% of requests fulfilled. (2022-12-31)
Redemptions prorated for the period ending 2022-12-31: 4.2% requested, only 20.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Redemption requests ran at least twice the tender offer's capacity; only 20% of tendered shares were repurchased (offer expired 2022-12-31).
Redemption requests ran at least twice the tender offer's capacity; only 20% of tendered shares were repurchased (offer expired 2022-12-31). (Rule B5: Severe redemption oversubscription: a single offer at or beyond 2x capacity; Urgent.)

Redemptions prorated for the period ending 2022-11-30: 3.2% requested, only 63.0% of requests fulfilled. (2022-11-30)
Redemptions prorated for the period ending 2022-11-30: 3.2% requested, only 63.0% of requests fulfilled. The fund hit its redemption cap and rationed liquidity.

Net flows deteriorated to $-97.2M from $-80.3M (period ended 2025-06-30).
Net flows deteriorated to $-97.2M from $-80.3M (period ended 2025-06-30). (Rule C15: Net-flow deterioration: net flows negative; Notify.)

The fund is using 86% of its allowed leverage as of 2025-06-30 (GAAP-equity approximation of a cost-basis charter test; the fund's own NASAA calculation may show compliance).
The fund is using 86% of its allowed leverage as of 2025-06-30 (GAAP-equity approximation of a cost-basis charter test; the fund's own NASAA calculation may show compliance). (Rule B7: Leverage headroom floor: headroom < 15% of ceiling; Notify.)

FFO was negative in the period ended 2025-06-30; distributions were funded entirely from capital, asset sales, or borrowings, not operations.
FFO was negative in the period ended 2025-06-30; distributions were funded entirely from capital, asset sales, or borrowings, not operations. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

As amended, beginning with repurchases during the month of June 2025, the Company will limit share repurchases to 0.5% of the aggregate net asset value (“NAV”) per month (measured... (2025-06-09)
lation FD Disclosure On June 6, 2025, the board of directors of Starwood Real Estate Income Trust, Inc. (the “Company”) amended the Company’s share repurchase plan. As amended, beginning with repurchases during the month of June 2025, the Company will limit share repurchases to 0.5% of the aggregate net asset value (“NAV”) per month (measured using the aggregate NAV attributable to stockholders as

On May 12, 2025, the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (2025-05-12)
On May 12, 2025, the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (the “Company”) appointed Nora Creedon to serve as the Company’s Chief Executive Officer and President, effective July 28, 2025. Ms. Creedon’s appointment coincides with the resignation of Sean Harris, the Company’s current Chief Executive Officer and President, on May 8, 2025 and effective July 28, 2025. In addition, Mr. Harris notified the Board that h

NAV per share ($20.97) is 1.6% below its trailing four-observation average ($21.31) as of 2025-04-30.
NAV per share ($20.97) is 1.6% below its trailing four-observation average ($21.31) as of 2025-04-30. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

Net flows deteriorated to $-80.3M from $-92.2M (period ended 2025-03-31).
Net flows deteriorated to $-80.3M from $-92.2M (period ended 2025-03-31). (Rule C15: Net-flow deterioration: net flows negative; Notify.)

On March 31, 2025, the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (2025-03-31)
On March 31, 2025, the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (the “Company”) appointed Jonathan Pollack to serve as a member of the Board, effective April 1, 2025. Biographical information with respect to Mr. Pollack is set forth below. The appointment of Mr. Pollack was not made pursuant to any arrangement or understanding between him and any other person. Jonathan Pollack , 48, has served as a member of the Bo

FFO was negative in the period ended 2025-03-31; distributions were funded entirely from capital, asset sales, or borrowings, not operations.
FFO was negative in the period ended 2025-03-31; distributions were funded entirely from capital, asset sales, or borrowings, not operations. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

Net flows deteriorated to $-92.2M from $-95.8M (period ended 2024-12-31).
Net flows deteriorated to $-92.2M from $-95.8M (period ended 2024-12-31). (Rule C15: Net-flow deterioration: net flows negative; Notify.)

FFO was negative in the period ended 2024-12-31; distributions were funded entirely from capital, asset sales, or borrowings, not operations.
FFO was negative in the period ended 2024-12-31; distributions were funded entirely from capital, asset sales, or borrowings, not operations. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

NAV per share ($21.80) is 1.2% below its trailing four-observation average ($22.07) as of 2024-10-31.
NAV per share ($21.80) is 1.2% below its trailing four-observation average ($22.07) as of 2024-10-31. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

Net flows deteriorated to $-95.8M from $-307.3M (period ended 2024-09-30).
Net flows deteriorated to $-95.8M from $-307.3M (period ended 2024-09-30). (Rule C15: Net-flow deterioration: net flows negative; Notify.)

FFO was negative in the period ended 2024-09-30; distributions were funded entirely from capital, asset sales, or borrowings, not operations.
FFO was negative in the period ended 2024-09-30; distributions were funded entirely from capital, asset sales, or borrowings, not operations. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

Net flows deteriorated to $-307.3M from $-470.4M (period ended 2024-06-30).
Net flows deteriorated to $-307.3M from $-470.4M (period ended 2024-06-30). (Rule C15: Net-flow deterioration: net flows negative; Notify.)

The fund leaned harder on leverage: 66% -> 72% of its allowed leverage in use in one period (period ended 2024-06-30).
The fund leaned harder on leverage: 66% -> 72% of its allowed leverage in use in one period (period ended 2024-06-30). (Rule C22: Leverage creep: headroom down >= 5 percentage points in one period; Notify.)

FFO covered only 34% of distributions in the period ended 2024-06-30; the gap was funded from capital or gains.
FFO covered only 34% of distributions in the period ended 2024-06-30; the gap was funded from capital or gains. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

On May 23, 2024, the Company’s board of directors amended the Company’s share repurchase plan. (2024-05-23)
ely preceding month) pursuant to the Company’s share repurchase plan. On May 23, 2024, the Company’s board of directors amended the Company’s share repurchase plan. As amended, beginning with repurchases during the month of May 2024, the Company will limit share repurchases to 0.33% of NAV per month (measured using the aggregate NAV attributable to stockholders as of the end of the immediately pre

Net flows deteriorated to $-470.4M from $-555.1M (period ended 2024-03-31).
Net flows deteriorated to $-470.4M from $-555.1M (period ended 2024-03-31). (Rule C15: Net-flow deterioration: net flows negative; Notify.)

The fund leaned harder on leverage: 61% -> 66% of its allowed leverage in use in one period (period ended 2024-03-31).
The fund leaned harder on leverage: 61% -> 66% of its allowed leverage in use in one period (period ended 2024-03-31). (Rule C22: Leverage creep: headroom down >= 5 percentage points in one period; Notify.)

FFO covered only 85% of distributions in the period ended 2024-03-31; the gap was funded from capital or gains.
FFO covered only 85% of distributions in the period ended 2024-03-31; the gap was funded from capital or gains. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

NAV per share ($23.09) is 0.5% below its trailing four-observation average ($23.21) as of 2024-02-29.
NAV per share ($23.09) is 0.5% below its trailing four-observation average ($23.21) as of 2024-02-29. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

NAV per share ($22.96) is 4.5% below its trailing four-observation average ($24.04) as of 2024-01-31.
NAV per share ($22.96) is 4.5% below its trailing four-observation average ($24.04) as of 2024-01-31. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

Net flows deteriorated to $-555.1M from $-574.3M (period ended 2023-12-31).
Net flows deteriorated to $-555.1M from $-574.3M (period ended 2023-12-31). (Rule C15: Net-flow deterioration: net flows negative; Notify.)

NAV per share fell 4.2% from $23.90 to $22.90 (2023-12-31).
NAV per share fell 4.2% from $23.90 to $22.90 (2023-12-31). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

NAV per share ($22.90) is 6.6% below its trailing four-observation average ($24.52) as of 2023-12-31.
NAV per share ($22.90) is 6.6% below its trailing four-observation average ($24.52) as of 2023-12-31. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

Net outflow of 5.6% of NAV in the period ended 2023-12-31.
Net outflow of 5.6% of NAV in the period ended 2023-12-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

FFO was negative in the period ended 2023-12-31; distributions were funded entirely from capital, asset sales, or borrowings, not operations.
FFO was negative in the period ended 2023-12-31; distributions were funded entirely from capital, asset sales, or borrowings, not operations. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

Credit facility new or amended: 3 occurrence(s), 2017-12-15 to 2023-12-18
Most recent (2023-12-18): Item 1.01 material-agreement body did not match a known credit-facility or advisory-agreement template; routed for review per principle 9. Raw text begins: Starwood Real Estate Income Trust, Inc. (the “Company”), through its operating partnership, Starwood REIT Operating Partnership, L.P. (the “Operating Partnership”), is launching a program (the “DST Program”) to issue and sell beneficial interests (the “DST Interests”) to “accredited investors,” as t

NAV per share fell 2.9% from $24.62 to $23.90 (2023-11-30).
NAV per share fell 2.9% from $24.62 to $23.90 (2023-11-30). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

Net flows deteriorated to $-574.3M from $-607.0M (period ended 2023-09-30).
Net flows deteriorated to $-574.3M from $-607.0M (period ended 2023-09-30). (Rule C15: Net-flow deterioration: net flows negative; Notify.)

Net outflow of 5.2% of NAV in the period ended 2023-09-30.
Net outflow of 5.2% of NAV in the period ended 2023-09-30. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

FFO covered only 62% of distributions in the period ended 2023-09-30; the gap was funded from capital or gains.
FFO covered only 62% of distributions in the period ended 2023-09-30; the gap was funded from capital or gains. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

Net flows deteriorated to $-607.0M from $-569.4M (period ended 2023-06-30).
Net flows deteriorated to $-607.0M from $-569.4M (period ended 2023-06-30). (Rule C15: Net-flow deterioration: net flows negative; Notify.)

Net outflow of 5.2% of NAV in the period ended 2023-06-30.
Net outflow of 5.2% of NAV in the period ended 2023-06-30. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

FFO covered only 41% of distributions in the period ended 2023-06-30; the gap was funded from capital or gains.
FFO covered only 41% of distributions in the period ended 2023-06-30; the gap was funded from capital or gains. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

On May 9, 2023, the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (2023-05-09)
On May 9, 2023, the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (the “Company”) appointed Sean Harris, the Company’s President since January 2021, to serve as Chief Executive Officer and as a director of the Company, effective immediately. Mr. Harris will take over as Chief Executive Officer from John P. McCarthy, Jr., who has served in such role since the Company’s inception in November of 2017. Mr. McCarthy will rem

NAV per share ($25.32) is 2.7% below its trailing four-observation average ($26.01) as of 2023-04-30.
NAV per share ($25.32) is 2.7% below its trailing four-observation average ($26.01) as of 2023-04-30. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

Net flows deteriorated to $-569.4M from $-233.4M (period ended 2023-03-31).
Net flows deteriorated to $-569.4M from $-233.4M (period ended 2023-03-31). (Rule C15: Net-flow deterioration: net flows negative; Notify.)

NAV per share fell 2.2% from $26.12 to $25.54 (2023-03-31).
NAV per share fell 2.2% from $26.12 to $25.54 (2023-03-31). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

FFO was negative in the period ended 2023-03-31; distributions were funded entirely from capital, asset sales, or borrowings, not operations.
FFO was negative in the period ended 2023-03-31; distributions were funded entirely from capital, asset sales, or borrowings, not operations. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

NAV per share ($26.12) is 1.0% below its trailing four-observation average ($26.39) as of 2023-02-28.
NAV per share ($26.12) is 1.0% below its trailing four-observation average ($26.39) as of 2023-02-28. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

NAV per share ($26.04) is 4.0% below its trailing four-observation average ($27.14) as of 2023-01-31.
NAV per share ($26.04) is 4.0% below its trailing four-observation average ($27.14) as of 2023-01-31. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

Redemptions accelerated to $779.7M from $402.4M the prior period (period ended 2022-12-31).
Redemptions accelerated to $779.7M from $402.4M the prior period (period ended 2022-12-31). (Rule C14: Redemption acceleration: repurchase/redemption dollars up >= 25%; Notify.)

NAV per share fell 2.6% from $27.05 to $26.34 (2022-12-31).
NAV per share fell 2.6% from $27.05 to $26.34 (2022-12-31). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

Redemptions accelerated to $402.4M from $118.3M the prior period (period ended 2022-09-30).
Redemptions accelerated to $402.4M from $118.3M the prior period (period ended 2022-09-30). (Rule C14: Redemption acceleration: repurchase/redemption dollars up >= 25%; Notify.)

FFO was negative in the period ended 2021-09-30; distributions were funded entirely from capital, asset sales, or borrowings, not operations.
FFO was negative in the period ended 2021-09-30; distributions were funded entirely from capital, asset sales, or borrowings, not operations. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

On January 15, 2021, the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (2021-01-15)
On January 15, 2021, the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (the “Company”) appointed Sean Harris to serve as President of the Company, effective immediately. Previously, Mr. Harris served as the Company’s Senior Vice President of Acquisitions from October 2017 to January 2021. John P. McCarthy Jr., who previously served as both the Company’s Chief Executive Officer and President, wil

On November 6, 2020, Dave Guiteau notified the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (2020-11-06)
On November 6, 2020, Dave Guiteau notified the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (the “Company”) of his resignation as Chief Financial Officer and Treasurer of the Company, effective November 16, 2020. Mr. Guiteau’s resignation was not due to any disagreement with the Company, its advisor, Starwood REIT Advisors, L.L.C. (the “Advisor”), or

Share Repurchase Plan On October 20, 2020, the Board also approved an amended and restated share repurchase program (the “Share Repurchase Plan”), which became effective... (2020-10-21)
, which DRIP is incorporated herein by reference. Share Repurchase Plan On October 20, 2020, the Board also approved an amended and restated share repurchase program (the “Share Repurchase Plan”), which became effective immediately, to clarify that the one-year holding period for purposes of determining the early repurchase deduction is measured from the first calendar day of the month the shares

NAV per share fell 2.2% from $21.68 to $21.20 (2020-03-31).
NAV per share fell 2.2% from $21.68 to $21.20 (2020-03-31). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

The fund leaned harder on leverage: 49% -> 59% of its allowed leverage in use in one period (period ended 2020-03-31).
The fund leaned harder on leverage: 49% -> 59% of its allowed leverage in use in one period (period ended 2020-03-31). (Rule C22: Leverage creep: headroom down >= 5 percentage points in one period; Notify.)

FFO was negative in the period ended 2020-03-31; distributions were funded entirely from capital, asset sales, or borrowings, not operations.
FFO was negative in the period ended 2020-03-31; distributions were funded entirely from capital, asset sales, or borrowings, not operations. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

FFO covered only 76% of distributions in the period ended 2019-09-30; the gap was funded from capital or gains.
FFO covered only 76% of distributions in the period ended 2019-09-30; the gap was funded from capital or gains. (Rule C24: Distribution coverage (REIT, FFO basis): distribution_ffo_coverage < 100%; Notify.)

On April 11, 2019, Chris Lowthert notified the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (2019-04-11)
On April 11, 2019, Chris Lowthert notified the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (the “Company”) of his resignation as Chief Financial Officer and Treasurer of the Company, effective immediately. Mr. Lowthert’s resignation was not due to any disagreement with the Company, its advisor or any of their affiliates. On April 12, 2019, the Board

On January 16, 2018, the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (2018-01-16)
On January 16, 2018, the board of directors (the “Board”) of Starwood Real Estate Income Trust, Inc. (the “Company”) (i) increased the membership of the Board from seven directors to nine directors; (ii) appointed Christopher D. Graham and David B. Henry as directors; and (iii) confirmed that David B. Henry qualified as an “independent director” as defined in the Company’s Articles of Amendment and Restatement. Mr. Graham has served as the Company’s

02 / Trends

How the fund has moved.

Net asset value, total return, capital flows, and distribution coverage across the filing record.

Total return index

NAV per share

Net capital flows, % of NAV

Distribution coverage

Leverage in use

Filed performance

No directly filed return covers the derived window shown below.

Derived

Window	Class	Basis	Return	Method & constituents
2025-04-01 to 2026-03-31 trailing 12m	Class I	at NAV	-1.21%	computed from filed NAVs + distributions Calculation & filed sources existing total_return_series index[2026-03-31] / index[2025-03-31] - 1 = -1.212379554467% nav_per_share · instant to 2025-03-31 · 0000950170-25-054745 nav_per_share · instant to 2025-04-30 · 0000950170-25-072475 nav_per_share · instant to 2025-05-31 · 0000950170-25-086075 nav_per_share · instant to 2025-06-30 · 0000950170-25-096581 nav_per_share · instant to 2025-07-31 · 0000950170-25-109258 nav_per_share · instant to 2025-08-31 · 0001193125-25-204655 nav_per_share · instant to 2025-09-30 · 0001193125-25-242581 nav_per_share · instant to 2025-10-31 · 0001193125-25-280176 nav_per_share · instant to 2025-11-30 · 0001193125-25-320762 nav_per_share · instant to 2025-12-31 · 0001193125-26-037764 nav_per_share · instant to 2026-01-31 · 0001193125-26-048822 nav_per_share · instant to 2026-02-28 · 0001193125-26-111037 nav_per_share · instant to 2026-03-31 · 0001193125-26-158768 dist_per_share · instant to 2025-04-30 · 0000950170-25-060800 dist_per_share · instant to 2025-05-30 · 0000950170-25-079532 dist_per_share · instant to 2025-06-30 · 0000950170-25-091276 dist_per_share · instant to 2025-07-31 · 0000950170-25-100645 dist_per_share · instant to 2025-08-29 · 0000950170-25-112131 dist_per_share · instant to 2025-09-30 · 0001193125-25-224358 dist_per_share · instant to 2025-10-31 · 0001193125-25-259895 dist_per_share · instant to 2025-11-26 · 0001193125-25-300795 dist_per_share · instant to 2025-12-30 · 0001193125-25-336270 dist_per_share · instant to 2026-01-30 · 0001193125-26-030655 dist_per_share · instant to 2026-02-27 · 0001193125-26-079856 dist_per_share · instant to 2026-03-31 · 0001193125-26-133484
2025-01-01 to 2025-12-31 calendar year	Class I	at NAV	-2.41%	computed from filed NAVs + distributions Calculation & filed sources existing total_return_series index[2025-12-31] / index[2024-12-31] - 1 = -2.407489807383% nav_per_share · instant to 2024-12-31 · 0000950170-25-006708 nav_per_share · instant to 2025-01-31 · 0000950170-25-020646 nav_per_share · instant to 2025-02-28 · 0000950170-25-040159 nav_per_share · instant to 2025-03-31 · 0000950170-25-054745 nav_per_share · instant to 2025-04-30 · 0000950170-25-072475 nav_per_share · instant to 2025-05-31 · 0000950170-25-086075 nav_per_share · instant to 2025-06-30 · 0000950170-25-096581 nav_per_share · instant to 2025-07-31 · 0000950170-25-109258 nav_per_share · instant to 2025-08-31 · 0001193125-25-204655 nav_per_share · instant to 2025-09-30 · 0001193125-25-242581 nav_per_share · instant to 2025-10-31 · 0001193125-25-280176 nav_per_share · instant to 2025-11-30 · 0001193125-25-320762 nav_per_share · instant to 2025-12-31 · 0001193125-26-037764 dist_per_share · instant to 2025-01-31 · 0000950170-25-011461 dist_per_share · instant to 2025-02-28 · 0000950170-25-029597 dist_per_share · instant to 2025-03-31 · 0000950170-25-047336 dist_per_share · instant to 2025-04-30 · 0000950170-25-060800 dist_per_share · instant to 2025-05-30 · 0000950170-25-079532 dist_per_share · instant to 2025-06-30 · 0000950170-25-091276 dist_per_share · instant to 2025-07-31 · 0000950170-25-100645 dist_per_share · instant to 2025-08-29 · 0000950170-25-112131 dist_per_share · instant to 2025-09-30 · 0001193125-25-224358 dist_per_share · instant to 2025-10-31 · 0001193125-25-259895 dist_per_share · instant to 2025-11-26 · 0001193125-25-300795 dist_per_share · instant to 2025-12-30 · 0001193125-25-336270

Figures are reproduced from filed disclosures with their exact window, class, and stated basis. They are separate from the calculated NAV-plus-distributions index and from manager-source monthly returns.

Monthly performance eligibility

Canonical class: Class I · basis: no qualifying monthly chain · qualifying history: 0 months.

1y: Pending; 3y: Pending; 5y: Pending Manager-published observations remain distinct from SEC-filed facts and publish only after declared-crawler, robots, class, exact-window, and SEC-precedence gates pass.

Coverage basis note

The comparative FFO series is a consolidated-GAAP proxy built from the fund's own XBRL (net income plus real-estate depreciation and amortization, less gains on real-estate sales). It can differ from sponsor-reported FFO because sponsor reconciliations may include additional adjustments.

03 / Portfolio

What moved inside the book.

Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.

Pending

04 / Redemptions

Where exit demand met the cap.

Stated cap: 0.5% of net assets/month; 1.5% of net assets/quarter. Rationed in 35 of 46 disclosed periods; last gated Mar 2026.

Requested redemptions versus cap

Period	Requested	Filled	Cap used	Status
2026-03-31	Pending	3%	100%	rationed
2026-02-28	Pending	3%	100%	rationed
2026-01-31 quarter	Pending	3%	100%	rationed
2025-09-30	Pending	4%	100%	rationed
2025-08-31	Pending	4%	100%	rationed
2025-07-31	Pending	4%	100%	rationed
2025-06-30	Pending	4%	100%	rationed
2025-05-31	Pending	3%	100%	rationed
2025-04-30 quarter	Pending	3%	100%	rationed
2025-02-28	Pending	4%	100%	rationed
2025-01-31 quarter	Pending	4%	100%	rationed
2024-11-30	Pending	4%	100%	rationed
2024-10-31 quarter	Pending	4%	100%	rationed
2024-08-31	Pending	4%	100%	rationed
2024-07-31	Pending	4%	100%	rationed
2024-06-30	Pending	4%	100%	rationed
2024-05-31	Pending	3%	100%	rationed
2024-04-30	Pending	37%	100%	rationed
2024-03-31	Pending	24%	100%	rationed
2024-02-29	Pending	40%	100%	rationed
2024-01-31	Pending	48%	100%	rationed
2023-12-31	2.9% of net assets source Annual report (Form 10-K) · filed 2024-03-21 · period 2023-12-31 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In December 2023, we received repurchase requests equal to 2.9% of our aggregate monthly NAV. As per the terms of our share repurchase plan, we honored all repurchase requests for December 2023 on a pro rata basis up to the 5% quarterly limitation resulting in 1.0% of September 30, 2023 NAV being honored. As such, 37.9% of each stockholder’s share repurchase reques” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017024034645/ck0001711929-20231231.htm \| redemption disclosure (redemptions_requested_pct_nav)	38%	100%	rationed
2023-11-30	3.8% of net assets source Annual report (Form 10-K) · filed 2024-03-21 · period 2023-11-30 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In November 2023, we received repurchase requests equal to 3.8% of our aggregate monthly NAV. As per the terms of our share repurchase plan, we honored all repurchase requests for November 2023 on a pro rata basis up to the 2% monthly limitation. As such, 52.5% of each stockholder’s repurchase request was satisfied in November 2023” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017024034645/ck0001711929-20231231.htm \| redemption disclosure (redemptions_requested_pct_nav)	52%	100%	rationed
2023-10-31	4.5% of net assets source Annual report (Form 10-K) · filed 2024-03-21 · period 2023-10-31 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In October 2023, we received repurchase requests equal to 4.5% of our aggregate monthly NAV. As per the terms of our share repurchase plan, we honored all repurchase requests for October 2023 on a pro rata basis up to the 2% monthly limitation. As such, 44.9% of each stockholder’s repurchase request was satisfied in October 2023” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017024034645/ck0001711929-20231231.htm \| redemption disclosure (redemptions_requested_pct_nav)	45%	100%	rationed
2023-09-30	3.3% of net assets source Quarterly report (Form 10-Q) · filed 2023-11-13 · period 2023-09-30 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In September 2023, we received repurchase requests equal to 3.3% of our aggregate monthly NAV. As per the terms of our share repurchase plan, we honored all repurchase requests for September 2023 on a pro rata basis up to the 5% quarterly limitation resulting in 1.0% of June 30, 2023 NAV being honored. As such, 31.3% of each stockholder’s share repurchase requests ” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017023062865/ck0001711929-20230930.htm \| redemption disclosure (redemptions_requested_pct_nav)	31%	100%	rationed
2023-08-31	3.9% of net assets source Quarterly report (Form 10-Q) · filed 2023-11-13 · period 2023-08-31 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In August 2023, we received repurchase requests equal to 3.9% of our aggregate monthly NAV. As per the terms of our share repurchase plan, we honored all repurchase requests for August 2023 on a pro rata basis up to the 2% monthly limitation. As such, 51.3% of each stockholder’s repurchase request was satisfied in August 2023” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017023062865/ck0001711929-20230930.htm \| redemption disclosure (redemptions_requested_pct_nav)	51%	100%	rationed
2023-07-31	3.6% of net assets source Quarterly report (Form 10-Q) · filed 2023-11-13 · period 2023-07-31 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In July 2023, we received repurchase requests equal to 3.6% of our aggregate monthly NAV. As per the terms of our share repurchase plan, we honored all repurchase requests for July 2023 on a pro rata basis up to the 2% monthly limitation. As such, 55.3% of each stockholder’s repurchase request was satisfied in July 2023” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017023062865/ck0001711929-20230930.htm \| redemption disclosure (redemptions_requested_pct_nav)	55%	100%	rationed
2023-06-30	3.2% of net assets source Quarterly report (Form 10-Q) · filed 2023-08-14 · period 2023-06-30 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In June 2023, we received repurchase requests equal to 3.2% of our aggregate monthly NAV. As per the terms of our share repurchase plan, we honored all repurchase requests for June 2023 on a pro rata basis up to the 5% quarterly limitation resulting in 1.0% of March 31, 2023 NAV being honored. As such, 32.9% of each stockholder’s share repurchase requests were sati” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017023042381/ck0001711929-20230630.htm \| redemption disclosure (redemptions_requested_pct_nav)	33%	100%	rationed
2023-05-31	4.2% of net assets source Quarterly report (Form 10-Q) · filed 2023-08-14 · period 2023-05-31 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In May 2023, we received repurchase requests equal to 4.2% of our aggregate monthly NAV. As per the terms of our share repurchase plan, we honored all repurchase requests for May 2023 on a pro rata basis up to the 2% monthly limitation. As such, 47.8% of each stockholder’s repurchase request was satisfied in May 2023” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017023042381/ck0001711929-20230630.htm \| redemption disclosure (redemptions_requested_pct_nav)	48%	100%	rationed
2023-04-30	4.2% of net assets source Quarterly report (Form 10-Q) · filed 2023-08-14 · period 2023-04-30 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In April 2023, we received repurchase requests equal to 4.2% of our aggregate monthly NAV. As per the terms of our share repurchase plan, we honored all repurchase requests for April 2023 on a pro rata basis up to the 2% monthly limitation. As such, 47.7% of each stockholder’s repurchase request was satisfied in April 2023” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017023042381/ck0001711929-20230630.htm \| redemption disclosure (redemptions_requested_pct_nav)	48%	100%	rationed
2023-03-31	3.3% of net assets source Quarterly report (Form 10-Q) · filed 2023-05-12 · period 2023-03-31 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In March 2023, we received repurchase requests equal to 3.3% of our aggregate monthly NAV. As per the terms of our share repurchase plan, we honored all repurchase requests for March 2023 on a pro rata basis up to the 5% quarterly limitation of which 1.0% of December 31, 2022 NAV was honored. As such, 30.4% of each stockholder’s share repurchase requests were satis” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017023021766/ck0001711929-20230331.htm \| redemption disclosure (redemptions_requested_pct_nav)	30%	100%	rationed
2023-02-28	4.0% of net assets source Quarterly report (Form 10-Q) · filed 2023-05-12 · period 2023-02-28 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In February 2023, we received repurchase requests equal to 4.0% of our aggregate monthly NAV. As per the terms of our share repurchase plan, we honored all repurchase requests for February 2023 on a pro rata basis up to the 2% monthly limitation. As such, 49.6% of each stockholder’s repurchase request was satisfied in February 2023” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017023021766/ck0001711929-20230331.htm \| redemption disclosure (redemptions_requested_pct_nav)	50%	100%	rationed
2023-01-31	5.2% of net assets source Quarterly report (Form 10-Q) · filed 2023-05-12 · period 2023-01-31 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In January 2023, we received repurchase requests equal to 5.2% of our aggregate monthly NAV. In accordance with the terms of our share repurchase plan, we honored all repurchase requests for January 2023 on a pro rata basis up to the 2% monthly limitation. As such, 38.6% of each stockholder’s repurchase request was satisfied in January 2023” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017023021766/ck0001711929-20230331.htm \| redemption disclosure (redemptions_requested_pct_nav)	39%	100%	rationed
2022-12-31	4.2% of net assets source Annual report (Form 10-K) · filed 2023-03-17 · period 2022-12-31 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In December 2022, we received repurchase requests equal to 4.2% of our aggregate monthly NAV and honored all repurchase requests for December 2022 on a pro-rata basis up to the 5% quarterly limitation of which 0.8% of September 30, 2022 NAV was honored. As such, 20% of each stockholder’s share repurchase requests were satisfied in December 2022” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017023008601/ck0001711929-20221231.htm \| redemption disclosure (redemptions_requested_pct_nav)	20%	100%	rationed
2022-11-30	3.2% of net assets source Annual report (Form 10-K) · filed 2023-03-17 · period 2022-11-30 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (NAV pct requested): In November 2022, we received repurchase requests equal to 3.2% of our aggregate monthly NAV and honored all repurchase requests for November 2022 on a pro-rata basis up to the 2% monthly limitation. As such, 63% of each stockholder’s repurchase request was satisfied in November 2022” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017023008601/ck0001711929-20221231.htm \| redemption disclosure (redemptions_requested_pct_nav)	63%	100%	rationed
2022-10-31	2.2% of net assets source Annual report (Form 10-K) · filed 2023-03-17 · period 2022-10-31 redemption disclosure (redemptions_requested_pct_nav) “SREIT month (board authorized repurchases above the cap): In October 2022, we received repurchase requests equal to 2.2% of our aggregate monthly NAV. Our board of directors, including all of its independent directors, authorized repurchases above the 2% monthly repurchase limitation for October 2022. As such, 100% of share repurchase requests were satisfied in October 2022” Method Matched text template against the filing Open the filing on SEC.gov · Full observation history Technical locator https://www.sec.gov/Archives/edgar/data/1711929/000095017023008601/ck0001711929-20221231.htm \| redemption disclosure (redemptions_requested_pct_nav)	100%	Pending	filled
2022-09-30	Pending	100%	Pending	filled
2022-08-31	Pending	100%	Pending	filled
2022-07-31	Pending	100%	Pending	filled
2022-06-30	Pending	100%	Pending	filled
2022-05-31	Pending	100%	Pending	filled
2022-04-30	Pending	100%	Pending	filled
2022-03-31	Pending	100%	Pending	filled
2022-02-28	Pending	100%	Pending	filled
2022-01-31	Pending	100%	Pending	filled
2021-12-31	Pending	100%	Pending	filled

05 / Financing

How the balance sheet is funded.

Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.

Pending

06 / Share classes

How the offering is divided.

A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.

Not attributed 100.0%

Share of total net assets ($3,582,693,000) as of 2026-03-31; the hatched band is net assets the filings do not attribute to a captured class.

Class	Terms-based role description	Load	Servicing	Minimum	Assets
Class I	Pending	Pending	Pending	Pending	Pending

Current temporary management fee: 1.00% of nav plus dst property consideration per year, current as of 2026-05-14. Normalized contractual rate: 1.25% — 1.25% of NAV plus the separately disclosed DST-property consideration component.. Temporary reduction: The current NAV component is reduced to 1.00%; the April 2026 SRP remains more restrictive than the restoration condition. Normalized NAV component is 1.25%, with the DST component preserved separately.. SEC source 0001193125-26-224088.

Canonical-class fee profile

Class	Management	Incentive	Load	Servicing	Gross expenses	Net expenses
Class I	1.00%temporary; 1.25% normalized	12.5% of total return, 5% hurdle + high-water mark * Performance Participation Allocation: 12.50% of Total Return; 5.0% annual hurdle and High Water Mark; catch-up applies. SEC source 0001193125-26-274336	Pending	Pending	Pending	Pending

Fee component	Rate	Basis / class	Condition
Management · current temporary nav rate	1.00%	All classes	Contractual component; Conditional 20% waiver remains active.
Management · normalized contractual nav rate	1.25%	All classes	Contractual component; Contractual NAV component without the waiver.
Management · dst property component	1.25%	All classes	Contractual component; Separate filed management-fee component; not combined into a scalar.
Performance · Performance Participation Allocation	12.50%	Total Return	5.0% annual hurdle and High Water Mark; catch-up applies.^*

SEC source 0001193125-26-224088 · SEC source 0001193125-26-274336

^* Catch-up applies; detailed mechanics remain in the cited filing.

07 / Sources

The evidence beneath the page.

Filed terms and recent documents remain available without crowding the primary research flow.

Term register (5)

Term	Description	Value	Effective
advisory_fee_schedule	As compensation for its services, the Advisor is entitled to an annual management fee equal to (i) 1.25% of the Company's NAV per annum, payable monthly, before giving effect to any accruals for the management fee, the stockholder servicing fee, the performance participation interest, or any distributions, plus (ii) 1.25% per annum of the aggregate DST Property consideration for all DST Properties subject to the FMV Option held by the Operating Partnership -- the Advisor does not receive a duplicative management fee with respect to any DST Property (the two legs are mutually exclusive per property, not additive on the same asset). The Operating Partnership separately pays the Advisor a management fee equal to 1.25% of the NAV attributable to Operating Partnership units held by third-party unitholders. Commencing May 2024, the Advisor has agreed to waive 20% of its management fee -- reducing the EFFECTIVE rate from 1.25% of NAV to 1.00% of NAV -- until the Company's share repurchase plan is reinstated to its full monthly (2% of NAV) and quarterly (5% of NAV) limits; this waiver was still in effect as of this 10-K's fiscal year 2025 reporting period. The 1.25% contractual rate is captured as numeric_value; the active waiver is noted here rather than blocking the headline, per the same convention used for other funds' currently-active partial waivers above (e.g. Cascade Private Capital Fund).	1.25 pct_annual_of_nav_plus_dst_property_consideration	Pending
advisory_fee_schedule	waive 20% of its management fee, thereby reducing it from 1.25% of NAV to 1% of NAV, until the Company’s share repurchase plan has been reinstated to the monthly repurchase limit of 2% of NAV (measured using the aggregate NAV attributable to stockholders as of the end of the immediately preceding month) and quarterly repurchase limit of 5% of NAV (measured using the aggregate NAV attributable to stockholders as of the end of the immediately preceding quarter).	1.25 pct_annual_of_nav_plus_dst_property_consideration	2024-05-01
incentive_fee_schedule	Performance Participation Allocation. So long as the Advisory Agreement has not been terminated (including by means of non-renewal), Starwood REIT Special Limited Partner, L.L.C. (the “Special Limited Partner”), a wholly owned subsidiary of our sponsor, holds a performance participation interest in the Operating Partnership that entitles it to receive cash allocations (or Operating Partnership units at its election) from our Operating Partnership equal to 12.5% of the Total Return, subject to a 5% Hurdle Amount and a High Water Mark, with a Catch-Up (each term as defined in the Operating Partnership’s limited partnership agreement).	Text disclosure	Pending
leverage_ceiling	ed in substantial part by borrowing, which increases our exposure to loss. Under our charter, we have a limitation that precludes us from borrowing in excess of 300% of our net assets, which approximates borrowing 75% of the cost of our investments (unless a majority of our independent directors approv	300.0 pct_of_net_assets	Pending
repurchase_program_terms	Share Repurchase Plan: aggregate repurchases limited to 2% of aggregate NAV per month (measured using the aggregate NAV as of the end of the immediately preceding month) and 5% of aggregate NAV per calendar quarter (measured using the aggregate NAV as of the end of the immediately preceding quarter).	2.0 pct_of_aggregate_nav_per_month	Pending

Recent filings

Filed	Form	Accession
2026-08-04	8-K	0001193125-26-332741
2026-07-31	8-K	0001193125-26-327316
2026-07-17	424B3	0001193125-26-307255
2026-06-30	8-K	0001193125-26-290199
2026-06-17	DEF 14A	0001193125-26-274336
2026-06-17	DEFA14A	0001193125-26-274347
2026-06-15	424B3	0001193125-26-271041
2026-05-29	8-K	0001193125-26-246478
2026-05-14	424B3	0001193125-26-224088
2026-05-11	10-Q	0001193125-26-216496
2026-04-30	8-K	0001193125-26-196329
2026-04-29	424B3	0001193125-26-192182
2026-04-29	8-K	0001193125-26-192168
2026-04-16	424B3	0001193125-26-158768
2026-03-31	8-K	0001193125-26-133484