By Heather Perlberg | Bloomberg Business
Barry Sternlicht, chairman of Starwood Capital Group, said sharp movements in stocks and a lack of liquidity makes real estate the best major market to invest in right now.
Starwood Capital, Sternlicht’s $44 billion real estate investment firm, is opting for safety by adding to its book of 40,000 apartments and 52 million square-feet of office space, he said in a television interview on “Bloomberg <GO>” with Stephanie Ruhle and David Westin.
“It’s a very difficult market,” Sternlicht said. “Real estate is far less volatile. We move in waves. The stock market moves on a dime and you don’t know why often.”
