# Starwood ROFR?



## mj2vacation (Apr 26, 2006)

Does Starwood have a ROFR on their newer properties?  

Has anyone ever seen them exercise it?


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## Pedro (Apr 26, 2006)

mj2vacation said:
			
		

> Does Starwood have a ROFR on their newer properties?
> 
> Has anyone ever seen them exercise it?


There is a thread about Starwood exercising ROFR at the Westin Mission Hills: http://www.tugbbs.com/forums/showthread.php?t=22609


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## DavidnRobin (Apr 27, 2006)

I would imagine that they would have a ROFR on all of their properties since according to their business model they claim it can keep the property value up (right or wrong) - it has been argued here (for some reason...)


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## baz48 (Apr 27, 2006)

We were able to buy a resale at Kierland at 1/3 the developer price nearly a year ago and they didn't excercise ROFR.  I was sweating it out though!  Don't know if it just slipped past, or they weren't interested at the time.


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## glenn1000 (Apr 28, 2006)

Not sure if this is true but I have been told that there are threshold prices for ROFR. In other words, it's not some guy looking over a stack of resales and saying yes or no based on how he's feeling that day, but rather checking if, for example, a 2-bedroom ocean front Maui resale is below a certain established price point. I understand that the price point is pretty low so that all reasonable resales will not be affected. Only when a deal is made that is "too good" will the ROFR come into play. It would be great to know what price point trips the ROFR because it would be better to pay slightly more and have a transaction completed than to get an amazing deal that goes right back to Starwood.


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## MON2REY (Apr 28, 2006)

I don't have the documents in front of me but we purchased at WKORN last month and if I remember correctly the document stated that they have ROFR if we try to sell our unit before all construction is complete and all units sold, estimated at 4 years.


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## Nicole D. (Apr 29, 2006)

If you really are interested, you can call portfolio services and ask what properties do they exercise ROFR.


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