Activist hedge fund Saba Capital Management and Cox Capital Partners have launched a cash tender offer to acquire up to 5% of the outstanding shares of Starwood Real Estate Income Trust (SREIT), at a discount of more than 20% of the funds most recent stated value.
The offer, which commenced on 5 March and will run until 25 April 2026, comes nearly two years after SREIT, an $8.2bn retail-focused property fund managed by Starwood Capital, sharply curtailed investor redemptions in May 2024 amid sur...
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