Key facts
- The venture is expected to be seeded with a $450 million portfolio of US residential land loans originated by Trez Capital.
- The partnership targets more than $1 billion in annual loan originations, according to the announcement.
- Starwood managing director Anthony Murphy said the tie-up combines Starwood's institutional capital with Trez's residential land financing.
- Trez co-CEO John D. Hutchinson said the partnership is an endorsement of Trez's financing expertise.
- Trez co-CEO and CFO John Maragliano said the tie-up should support stronger returns and liquidity for Trez investors.
Starwood Capital Group and Trez Capital announced on November 3 a strategic partnership to originate residential land acquisition and development loans for single-family communities across the United States. The venture pairs Starwood's institutional capital and investment platform with Trez's residential land financing business, the firms said.
The partnership is expected to be seeded with a $450 million portfolio of US residential land acquisition and development loans originated by Trez Capital and will target more than $1 billion in annual loan originations, according to the announcement. The firms said the tie-up expands Trez's lending capacity and gives Starwood another channel to finance land deals, supporting its investment focus in residential land and master-planned communities.
Executives at both firms described the partnership as a way to scale into what they see as a durable opportunity created by the US housing shortage and steady demand for new single-family homes, particularly in markets with sustained population growth and diverse employment bases. "Trez Capital has a strong track record in U.S. residential land lending, and we look forward to leveraging our collective strengths through this relationship," said Anthony Murphy, managing director at Starwood Capital.
John D. Hutchinson, Trez Capital co-chief executive officer and global head of origination, said: "This strategic partnership represents a significant endorsement of Trez Capital's financing expertise." John Maragliano, Trez co-CEO and chief financial officer, said the partnership advances the firm's push to deepen its institutional investor base and should support "stronger returns and liquidity" for Trez investors.
Miami-based Starwood Capital Group, founded in 1991, has raised more than $95 billion of capital and manages over $130 billion in assets across global real estate and related strategies. In June 2026 it closed its latest opportunistic real estate fund, Starwood Distressed Opportunity Fund XIII, with more than $10.2 billion in commitments from more than 300 investors in about 20 countries.
Vancouver-based Trez Capital, founded in 1997, focuses on commercial real estate debt and equity in Canada and the US. Trez Corporate Group oversees more than C$4.7 billion in assets under management and has funded over 1,800 transactions totaling more than C$23 billion since inception, according to the company.