Jeffrey Dishner, Starwood Capital Group’s global head of real estate acquisitions, is relocating from the US to Europe, PERE can reveal.
Dishner, senior managing director at Starwood who serves as head of real estate acquisitions at the Greenwich, Connecticut firm, as well as head of debt investments, is joining the London office on Monday.
Dishner’s relocation comes as Starwood begins fundraising for its ninth fund, targeting up to $3 billion.
It is also comes amid suggestions that Sean Arnold, head of European investments, has left the company. He is no longer named as a senior professional on Starwood's corporate website.
As PERE reported in July, Starwood led by Barry Sternlicht, has begun fundraising for Starwood Distressed Opportunity Fund IX in order to capitalize on opportunities around the world, targeting between $2 billion – $3 billion of commitments. Notably, the firm will be able to invest up to 30 percent of the vehicle in Europe from where Dishner will operate. The bulk of the capital will be channeled into North American distressed real estate, with a further 10 to 20 percent available for investing in Brazil and India.
Europe is beginning to see an opening up of opportunities, as exemplified by the recent structured sale of a £1.4 billion (€1.54 billion; $2.24 billion) Royal Bank of Scotland loan book, for which Starwood was an underbidder but which eventually went to The Blackstone Group as selected partner to the bank.
Dishner, who has worked at Starwood since 1994 has lately been responsible for overseeing the firm’s acquisition efforts, except for hotels, on a worldwide basis and assists the team in originating, structuring, underwriting and closing investments in all property type, according to Starwood’s website. He has also been a member of the firm’s executive and investment committees.