NEW YORK CITY-Respondents to a survey that asked which real estate company is the one that everyone should be watching in the years ahead, an overwhelming majority say they have their eyes affixed on a firm based in Fairfield County, CT.
Greenwich, CT-based real estate investment firm Starwood Capital Group easily bested its competition in the Top 10 Companies to Watch category, garnering 70% of the vote (respondents selecting the company as its first, second or third choice). Its nearest competitor—Healthcare REIT of Toledo, OH—stood at 39%.
Starwood Capital was founded in 1991 by its current chairman and CEO Barry S. Strernlicht, who for a decade was chairman and CEO of Starwood Hotels & Resorts Worldwide, Inc., a worldwide hotelier he also founded in 1995.
One survey respondent liked Starwood’s performance in the past decade and sees a bright future for the firm: “There will be great opportunities in hospitality, and Starwood Capital is one of the most innovative and successful hospitality investors out there.” Another simply stated: “They are a market leader who sets trends.”
Last month, Starwood made headlines when it was reported that it was planning to gain control over the 166-key Viceroy resort on the Caribbean island of Anguilla by acquiring the property’s more than $300-million loan from Citigroup Inc. for an undisclosed amount. With this acquisition, resort owner Viceroy Hotels & Resorts will give up its equity stake. However, it will continue to operate the resort on a performance-contingent basis, according to published reports.
Those who picked Healthcare REIT in the survey also believe that firm has an edge on its competition. “With medicine on the forefront of the political issues and with their constant returns, this should be the one to watch whether health care reform happens or not,” one survey respondent wrote. Another predicted, “As the nation gets older, health care properties will continue to be in high demand.”
Filling out the rest of the category were: ING Clarion (No.3); Grubb & Ellis (No. 4); Cornerstone Advisers (No. 5); Kennedy Wilson (No. 7): Ventas (No.8); Hudson Pacific Properties (No. 9); and Chesapeake Lodging Trust (No. 10). “Other,” a collection of write-ins, took sixth place.
Tomorrow: Look for the results of the Globest.com survey "Top 10 M&As."
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