Billionaire Sternlicht Sees ‘Category 5 Hurricane’ Spurred by Fed Rate Hikes
Starwood chairman, known as a bargain-hunting investor during downturns, sees opportunities in bank failures, commercial-property slump.
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Barry Sternlicht, the billionaire investor who built a reputation as a bargain hunter in financially turbulent times, is readying his next bets.
The Starwood Capital Group chairman scooped up distressed assets in the aftermath of the US savings and loan collapse and later in the Great Financial Crisis. He’s eyeing opportunities again, as the sharp increase in interest rates deflates commercial real estate values.