Key Takeaways
- • Starwood Capital Group and Trez Capital announced a strategic partnership on November 3, 2026 to originate residential land acquisition and development loans for single-family communities across the United States.
- • The partnership is expected to be seeded with a US$450 million portfolio of residential land acquisition and development loans originated by Trez Capital.
- • The venture targets more than US$1 billion in annual originations, combining Starwood's institutional capital with Trez's origination, underwriting, servicing and asset management platform.
- • Starwood Capital, which reports over $130 billion in assets under management, gains a lending channel into residential land finance, while Trez expands its lending capacity and institutional relationships.
- • Both firms cite structural U.S. housing supply imbalances and sustained residential demand as the rationale for the partnership.
Summary
Starwood Capital Group and Trez Capital announced on November 3, 2026 that they have entered into a strategic partnership focused on originating residential land acquisition and development loans for single-family communities across the United States, according to a PR Newswire release distributed via Morningstar. The partnership pairs Starwood Capital's institutional capital and investment platform with Trez Capital's residential land financing expertise. Trez Capital will expand its lending capacity and scale its existing residential land development financing platform, while Starwood gains the opportunity to finance land acquisition and development, complementing its long-standing record in residential land investments.
The partnership is expected to be seeded with a US$450 million portfolio of residential land acquisition and development loans originated by Trez Capital and will target more than US$1 billion in annual originations. The two firms state they are positioned to capitalize on structural housing supply imbalances and continued residential demand across the U.S., with a focus on markets featuring sustained population growth, employment diversity and investment opportunity.
Anthony Murphy, managing director at Starwood Capital, said the relationship would combine Starwood's institutional capital, real estate financing and master-planned community development experience with Trez's residential land lending capabilities. John D. Hutchinson, co-chief executive officer and global head of origination at Trez Capital, described the arrangement as a significant endorsement of Trez's financing expertise, citing its origination, underwriting, loan servicing and asset management platform. John Maragliano, Trez co-chief executive officer and chief financial officer, said the partnership is an important step in expanding Trez's institutional relationships and would support stronger returns and liquidity for its investors.
Starwood Capital is a private investment firm focused on real assets globally, with over $130 billion in assets under management and more than $95 billion raised since its 1991 inception. In June 2026, it held the final closing of Starwood Distressed Opportunity Fund XIII with capital commitments exceeding $10.2 billion from more than 300 investors. Trez Capital, founded in 1997, is a commercial real estate debt and equity provider in Canada and the United States with over C$4.7 billion in assets under management as of Q2 2026 and more than 1,800 transactions totaling over C$23 billion funded since inception. The release includes standard forward-looking statement cautions, noting risks including borrower defaults, interest rate movements and changes in real estate market conditions.
The partnership is expected to be seeded with a US$450 million portfolio of residential land acquisition and development loans originated by Trez Capital and will target more than US$1 billion in annual originations. The two firms state they are positioned to capitalize on structural housing supply imbalances and continued residential demand across the U.S., with a focus on markets featuring sustained population growth, employment diversity and investment opportunity.
Anthony Murphy, managing director at Starwood Capital, said the relationship would combine Starwood's institutional capital, real estate financing and master-planned community development experience with Trez's residential land lending capabilities. John D. Hutchinson, co-chief executive officer and global head of origination at Trez Capital, described the arrangement as a significant endorsement of Trez's financing expertise, citing its origination, underwriting, loan servicing and asset management platform. John Maragliano, Trez co-chief executive officer and chief financial officer, said the partnership is an important step in expanding Trez's institutional relationships and would support stronger returns and liquidity for its investors.
Starwood Capital is a private investment firm focused on real assets globally, with over $130 billion in assets under management and more than $95 billion raised since its 1991 inception. In June 2026, it held the final closing of Starwood Distressed Opportunity Fund XIII with capital commitments exceeding $10.2 billion from more than 300 investors. Trez Capital, founded in 1997, is a commercial real estate debt and equity provider in Canada and the United States with over C$4.7 billion in assets under management as of Q2 2026 and more than 1,800 transactions totaling over C$23 billion funded since inception. The release includes standard forward-looking statement cautions, noting risks including borrower defaults, interest rate movements and changes in real estate market conditions.
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