Starwood Capital Group Management, L.L.C. 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
Pacific Premier Bancorp Inc.	Common	69478X105	47,766	1,351,225	SH		SOLE		1,351,225	0	0
Camden Property Trust	Common	133131102	166,976	984,470	SH		SOLE		984,470	0	0
JBG Smith Properties	Common	46590V100	23,294	795,000	SH		SOLE		795,000	0	0
MFA Financial, Inc.	Common	55272X102	172,770	42,554,179	SH		SOLE		42,554,179	0	0
LXP Industrial Trust	Common	529043101	25,944	1,652,510	SH		SOLE		1,652,510	0	0
Preferred Apartment Communities Inc.	Common	74039L103	59,357	2,380,000	SH		SOLE		2,380,000	0	0
SmartRent Inc.	Common	83193G107	15,180	3,000,000	SH		SOLE		3,000,000	0	0