Starwood Credit REIT Raises $11.8 Million in September Private Share Sales

Nearly all of the month’s capital arrived through Class I shares, leaving the entire upfront commission and dealer manager load on the smaller Class S tranche.

September 3, 2026

Starwood Credit Real Estate Income Trust sold 587,724.144 of its common shares of beneficial interest on September 1, 2026, drawing aggregate consideration of approximately $11.8 million in the latest monthly closing of its continuous private offering.

The month broke down across two share classes:

• Class I — 543,279.699 shares at $19.9805 each, for $10,855,000 in consideration
• Class S — 44,444.445 shares at $20.0250 each, for $897,760, a figure that includes $7,760 of upfront selling commissions and dealer manager fees

The entire upfront fee load for the month therefore sat on the Class S side, an indication that the vehicle continues to reach investors through commission-based intermediary channels alongside its fee-based and institutional Class I business.

A private offering with public disclosure

The trust raises this capital privately rather than through a registered offering. The September shares were placed in reliance on Section 4(a)(2) and Regulation D, and the trust has no securities registered under Section 12(b) and none listed on an exchange.

What makes the offering visible at all is its status as an Exchange Act reporting company. That obligation turns each month’s subscription total into public information, giving advisors and allocators a running read on demand for a vehicle that would otherwise disclose nothing about its fundraising pace.

The vehicle behind the raise

The trust is structured as a perpetual-life, non-listed REIT and is externally managed by Starwood Credit Advisors, an indirect subsidiary of Starwood Capital Group Holdings. Its strategy centers on originating and managing senior secured, floating-rate commercial real estate loans across the United States and Europe, spanning multifamily, industrial, student housing, senior housing and self-storage collateral, with smaller allocations available to infrastructure lending and real estate-related securities.

A different picture from the equity side

The steady monthly cadence stands in contrast to conditions at the sponsor’s registered equity product. As previously reported, Starwood Real Estate Income Trust moved to suspend most share repurchases and reduce its monthly distribution earlier this year amid sustained redemption pressure. The credit trust, sitting at a different point in the capital stack and selling to a different investor base, is still adding shareholders every month.

For advisors tracking the real estate credit complex, the value of these monthly disclosures is cumulative rather than individual. One month of subscriptions says little on its own. A sequence of them, read alongside the trust’s quarterly portfolio and valuation reporting, shows whether the private channel is gaining or losing momentum as commercial real estate lending conditions shift.