Starwood Real Estate Income Trust (SREIT) fund is now trading on the LODAS Markets platform, which was previously known as Realto and focuses on secondaries.
SREIT limited investor withdrawals in December 2022 and January 2023, leaving many investors scrambling for a way to convert their assets in the $15 billion fund into cash.
“The LODAS marketplace currently has hundreds of millions of dollars of institutional buy-side interest in SREIT, with some willing to buy at the current NAV,” said Brian King, LODAS CEO. “It’s a potential lifeline for those want liquidity but were locked out of SREIT’s most recent redemption cycles.”
Launched as Realto in 2021, the platform is a place that matches buyers and sellers of alternative and real estate investments in an exchange format. The new name LODAS stands for Liquidity On Demand As a Service and represents the company’s aim to offer access to both individuals and fund sponsors to the world’s largest funds with liquidity on their terms, founders said.
To date, nearly $1 billion in total buy-side interest and more than 40 funds are being traded on the platform.