Starwood Capital Group has hired Michael Eglit as its new U.S. Head of Originations. This personnel move was confirmed by informed sources to Commercial Observer. Eglit previously spent almost 15 years at Blackstone, where he most recently held the position of Head of U.S. Originations for Blackstone Real Estate Debt Strategies. News of his move had already circulated last month at Commercial Mortgage Alert.
Eglit commenced his role on 8 September and will split his time between Greenwich, Connecticut, and New York City. His move comes approximately 17 months after Jonathan Pollack, a former colleague of Eglit's at Blackstone, joined Starwood Capital Group as President. According to sources, Eglit's existing connection with Pollack means he is a seamless cultural fit within the Starwood team.
One source stated that Starwood possesses one of the country's leading lending businesses and Eglit's objective is now to expand and enhance it further. Eglit brings numerous new relationships to Starwood, especially as the majority of Starwood's loans are granted to established clients and the company has lost a certain share of business to Blackstone as a competitor in recent years. Eglit can now introduce some of these relationships, which Starwood had previously been unable to access, into the company.
Trusting relationships are crucial in the real estate business. A source commented that people do business with those they know, like, and trust, and Starwood has now created an additional element in these relationships that did not exist before and will positively impact the business. The team is already examining deals it had not previously considered or won since Eglit came on board. Furthermore, Starwood plans to become more active in acquiring loan portfolios, given Eglit's pivotal role in this area at Blackstone.
Dennis Schuh was recently promoted to Global Head of Lending at Starwood – he was previously Head of U.S. Real Estate Private Credit. He and Eglit will share daily responsibilities, while Schuh will also expand Starwood's U.S. business internationally. Eglit joins a thriving business: in the fiscal year ending 31 March 2026, Starwood originated $10 billion in loans across 60 transactions, with industrial and residential real estate loans accounting for the majority of activity. The average loan volume exceeded $150 million, distributed across new developments, complex transitional transactions, vacancy reductions, and bridge loans.
Starwood Capital Group is a constant presence in the lending market and has invested in every single quarter since the pandemic. Eglit, regularly featured on Commercial Observer's Power Finance list, joined Blackstone in October 2010, after five years at Wrightwood Capital in Chicago. There, he focused on the origination, underwriting, and asset management of structured senior debt investments. This personnel decision underscores Starwood's endeavour to further strengthen and expand its leading position in real estate finance.
