GREENWICH, Conn., Starwood Capital Group Global, LLC today announced the successful closing of two funds, its $1.475 billion Starwood Global Opportunity Fund VII and its $900 million Starwood Hospitality Fund I. The closing of the funds brings Starwood Capital's total capital raised in 2005 to more than $3 billion.

Starwood's Global Opportunity Fund is focused on investing in undervalued real estate and real estate-related assets and operating companies globally across all property types including senior housing, residential, retail, office, land and development. The Hospitality Fund will invest in and develop hotel, resort and related leisure activities and properties throughout the world and at all levels of the capital structure. Investments will include single assets, portfolios and corporate entities.

"2005 was an excellent year for our firm and both of our funds. Major transactions included the acquisition of Societe Du Louvre in France for an aggregate value in excess of $3.2 billion, the acquisition in a joint venture of Meridien, the acquisition of Mammoth Mountain in California, and the acquisition of Harmony, an 11,000 acre master planned community in Orlando, Florida. In total, in 2005 the Starwood Funds acquired interests in more than 250 hotels in the United States, Canada, Europe and the Caribbean," said Barry Sternlicht, Starwood Capital's Chairman and Chief Executive Officer. "Just as importantly, Starwood substantially increased its team adding six new partners and opening three new offices in the United States in Ft Lauderdale, Washington DC, and Phoenix. 2006 promises to be an exciting year for Starwood."

STARWOOD CAPITAL GROUP GLOBAL, LLC | Starwood Capital Group Global, LLC is a privately held investment management firm that specializes in real estate related investments on behalf of select private and institutional investment partners. Founded in 1991, Starwood Capital is one of the nation's most active and successful real estate investment firms, having acquired a highly diversified portfolio totaling more than $14.0 billion in real estate assets. During the past fifteen years, Starwood Capital has closed and/or advised on over 380 transactions ranging in size up to $14.6 billion and has acquired equity interests in residential lots, multifamily and condominium units, hotels, office, retail and industrial space, golf and leisure-related properties. Starwood Capital has led the formation and growth of several market leading companies including iStar Financial, the leading publicly traded finance company specializing in commercial real estate mortgage, mezzanine and net lease financing, and Starwood Hotels & Resorts Worldwide (NYSE: HOT - News), a leading global owner/operator of hotels, with ownership of brands such as Sheraton, Westin, St. Regis, Luxury Collection, Four Points and W Hotels. Starwood Capital (with its affiliates) maintains offices in Greenwich, Atlanta, Ft. Lauderdale, Phoenix, San Francisco, Washington D.C., London, Luxembourg and Tokyo.