Starwood Closes 2 RE Funds

Starwood Capital Group Global LLC, an investment management firm based in Greenwich, Conn., has announced the closing of two real estate funds.The Starwood Global Opportunity Fund VII is a $1.475 billion fund focused on investing in undervalued real estate and real-estate-related assets and operating companies. The second fund, the $900 million Starwood Hospitality Fund I, will invest in and develop hotel, resort, and related leisure properties around the world at all levels of the capital structure, Starwood said. The company also reported that it opened three new offices in the United States last year, in Ft. Lauderdale, Fla.; Washington, D.C.; and Phoenix.