Starwood Real Estate Income Trust-Apollo JV Valuation, Funding & Investors

Dream Industrial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust. Its portfolio comprises industrial properties located in key markets across Canada, Europe and the USA. Its objective is to build upon and grow its portfolio and to provide stable and sustainable cash distributions to its unitholders.The reportable operating segments of its investment properties and results of operations are segmented into the following components: Ontario, Quebec, Western Canada, Europe, the U.S., Dream Summit JV and Development JV.

Aditya Birla Housing Finance is a housing finance company under Aditya Birla Capital, registered with India's National Housing Bank. Mumbai-headquartered, it disburses home loans, plot loans, and loans against property up to Rs 15 crore. With a loan book surpassing Rs 10,000 crore in 2023, the lender maintains 300 branches focusing on affordable housing in tier-2 and tier-3 cities.

Greystone is a New York-headquartered commercial real estate lender approved by the Federal Housing Administration for multifamily housing finance. The firm originates FHA-insured loans for apartment developments, affordable housing projects, and healthcare facilities under HUD programs such as 223(f) and 221(d)(4). Greystone structures financing for properties nationwide, including bridge loans and tax credit equity, drawing on its status as a top-ranked FHA multifamily lender.

Keppel REIT is a commercial real estate investment trust with a SGD 11.7 billion portfolio of assets (as of Dec. 31, 2025) across Singapore, Australia, South Korea, and Japan. The majority of its assets are in Singapore, where it owns a 100% stake in Keppel Bay Tower, a 79.9% stake in Ocean Financial Centre, 66.7% stake in Marina Bay Financial Centre 3 and a 33.33% stake in Marina Bay Financial Centre 1 and 2 and One Raffles Quay. The trust is externally managed by Keppel REIT Management, a subsidiary of Keppel Capital. Parent Keppel Ltd. currently retains an approximate 38% stake in Keppel REIT.

International Public Partnerships Ltd is a closed-ended investment company. Its objective is to provide investors with stable, long-term, inflation-linked returns, based on growing dividends and the potential for capital appreciation. Its portfolio consists of transport, energy transmission, Education, gas distribution, wastewater, health, judicial, digital, and others. Its investments are in the UK, United States, Europe, Australia, Belgium, Germany, New Zealand, Canada, Ireland, and Denmark, with the U.K. accounting for the majority of shares. It has four reportable segments UK & CI, Europe (excl. UK), North America, and Australia & New Zealand.

PennyMac Financial Services Inc is a specialty financial services firm with a comprehensive mortgage platform mainly focused on the production and servicing of U.S. residential mortgage loans. The firm is also engaged in managing investments related to the U.S. mortgage market and provides products and services that leverage technologies to support customers. The company operates through two reportable operating segments: production and servicing. The production segment performs loan origination, acquisition, and sale activities, while the servicing segment performs servicing and subservicing of loans, early buyout transactions, and servicing of loans sourced and managed for PMT. The majority of revenue comes from the production segment.

IndiGrid Infrastructure Trust, formerly India Grid Trust is an infrastructure investment trust established to own inter-state power transmission assets in India. The projects comprise extra high voltage (EHV) overhead power transmission lines, comprising approximately seven 765 kV transmission lines and thirty 400 kV transmission lines. The company has two distinct reportable segments: Power Transmission and Power generation. The power Transmission segment generates the majority of revenue and is engaged in the business of owning and maintaining transmission assets. The power Generation segment includes entities in the business of generating power through renewable sources such as solar etc.

Ellington Financial Inc is a specialty finance company. Its primary investment objective is to generate attractive, risk-adjusted total returns for its shareholders by making investments. The company has two reportable segments; The Investment Portfolio Segment is focused on investing in a diverse array of financial assets, including residential and commercial mortgage loans, residential mortgage-backed securities, non-mortgage- and mortgage-related derivatives, debt and equity investments in loan origination companies, and other strategic investments, and The Longbridge Segment is focused on the origination and servicing of reverse mortgage loans. it acquires reverse mortgage loans both through its origination activities and through secondary market purchases.

Fibra Mty S.A.P.I. DE C.V. acquires and manages a portfolio of first-class corporate properties with a focus on the office and industrial sectors. Its property portfolio includes Monza 2, Prometeo, Nico 1, Fortaleza, La Perla, Patria and Cienega 3 among others.

Fabric Invest is an investment firm managing assets across fintech, biotech, healthcare, and real estate sectors. It provides asset management, wealth advisory, and investment banking services from offices in London and Doha. Founded in 2019, Fabric Invest oversees a portfolio spanning 75 companies worldwide with a focus on pre-seed to IPO stages. The firm partners with entrepreneurs in SaaS and blockchain, maintaining global operations.

Snapdocs is a San Francisco-headquartered digital closing platform automating mortgage transactions for lenders and title companies across the United States. The solution streamlines pre-closing coordination, eClosing, and post-closing through patented AI for document handling and notary matching via extensive settlement networks. Snapdocs integrates with leading loan origination systems and title production software, serving over 400 enterprise clients to reduce cycle times and enhance borrower experiences.

State Grid Yingda Co Ltd, formerly Shanghai Zhixin Electric Co Ltd specializes in the development, production and sale of amorphous alloy transformers in China.

Walker & Dunlop Inc is a United States-based commercial real estate finance company. It is principally engaged in originating, selling, and servicing a number of multifamily and other commercial real estate financing products that are sold under the programs of Freddie Mac, Fannie Mae, Ginnie Mae, and the Federal Housing Administration. The company is managed based on three reportable segments: Capital Markets (CM), Servicing & Asset Management (SAM), and Corporate. The company generates a majority of total revenue from gains from mortgage banking activities and servicing fees. It conducts business solely in the United States.

Millrose Properties Inc is a Holding Company. The company along with its subsidiaries engages in providing operational and capital solutions for home builders and land development companies to finance the acquisition and development of land assets through its Homesite Option Purchase Platform.

Willow Wealth is an online investment platform focused on private markets. Users access opportunities in real estate, private credit, private equity, and diversified funds through a digital interface. The service offers individual deals alongside automated portfolio management for retail investors seeking alternatives to public markets.

Mirvac started off as a residential property developer and over time expanded into property investment, funds management, and commercial property development. Investment is the major earnings driver, generating about two-thirds of group earnings. The investment portfolio, by book value, is made up of 51% office, 21% retail, 20% industrial and the rest is build-to-rent and land lease assets. Longer term, Mirvac aims to increase exposure to the industrial and living sectors and own fewer offices and retail centers. Development income is volatile and was around one-third of fiscal 2026 group earnings. Besides developing apartments and houses, which Mirvac is best known for, it is also involved in commercial and mixed-use precinct developments.

Vastu Housing Finance Corporation Ltd is a National Housing Bank-registered housing finance company in India targeting affordable housing and low-income segments. The firm provides loans for home purchase, construction, extensions, property-backed financing, and builder funding to self-employed borrowers. Headquartered in Mumbai, Vastu Housing operates primarily in western and southern India, emphasizing socially relevant credit for residential and commercial needs.

Rithm Capital Corp operates as a real estate investment trust that provides capital and services to the real estate and financial services industries. The company aims to generate attractive risk-adjusted returns in all interest-rate environments through a complementary portfolio of investments and operating businesses. Its investment portfolio is composed of mortgage servicing-related assets (full and excess MSRs and servicer advances), residential securities (and associated call rights) loans (including single-family rental), and consumer loans. Its operating segments are Origination and Servicing; Investment Portfolio; Residential Transitional Lending; and Asset Management.