Trez, Starwood Target US$1B In Annual Residential Land Loans
Vancouver-based Trez Capital is teaming with Starwood Capital to expand its U.S. residential land lending business, with the partnership expected to launch with a US$450M loan portfolio and originate more than US$1B annually.
Announced Tuesday, the agreement will focus on financing land acquisition and development for single-family communities across the United States.
The initial portfolio will consist of loans previously originated by Trez. The partnership combines Starwood’s institutional capital with Trez’s established loan origination, underwriting, servicing and asset management operations.
“This strategic partnership represents a significant endorsement of Trez Capital’s financing expertise,” said John D. Hutchinson, Trez co-CEO and global head of origination.
The agreement builds on an existing relationship between the companies.
In April 2025, Starwood acquired 11 master-planned communities in Texas for approximately US$800M from Hines and its partners, including Trez, which held joint-venture interests in nine developments. The portfolio included more than 16,000 remaining residential lots and 600 acres of commercial land across Dallas, Houston and Austin.
Trez has continued expanding its U.S. land investments, including backing Hines’ acquisition of the 1,476-acre Brown Ranch property in Fort Worth in October.
Starwood manages more than US$130B in assets globally.
The companies have not identified properties in the initial loan portfolio or disclosed Starwood’s capital commitment.
Pictured: Brookewater, a master-planned community near Houston, was developed by Hines and Trez Capital before its sale to Starwood Capital as part of a US$800M Texas portfolio in 2025.
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