Congratulations to Starwood Capital Group for winning the 2023 Bronze Award in Treasury Transformation!

Starwood Capital Group is a leading private investment firm with a core focus on real estate, renewable energy, and infrastructure. The firm has approximately $120 billion of assets under management and oversees Starwood Property Trust, the largest commercial mortgage real estate investment trust (REIT) in the United States. Starwood Capital owns and manages properties such as multifamily homes, hotels, and office buildings, and it frequently closes on new property purchases. For treasury, bank account management has long been a key pain point of supporting this business model.

"Every deal is different," explains Gaina Dorvil, assistant treasurer for Starwood Capital, "but when we buy a property, we generally have to open several bank accounts to handle activities like deposits of rent revenue and payments for operating expenses. For one deal we just closed, we needed 30 different accounts. And we are always on a tight deadline to open accounts and ensure they're ready to receive funding."

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Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.