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Barry Sternlicht
Barry Sternlicht, Chairman and CEO, Starwood Capital Group, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 3, 2022.

PATRICK T. FALLON/AFP via Getty Images

  • Barry Sternlicht's company just defaulted on a $200 million mortgage backed by an Atlanta office tower. 
  • The mortgage matured on July 9, but Starwood Capital was unable to refinance or clear the debt. 
  • Sternlicht has repeatedly warned that higher interest rates will end up hurting the US economy.  

Billionaire investor Barry Sternlicht is living through a pre warned nightmare. 

Tags
Markets, MI Exclusive, Barry Sternlicht, Commercial Real Estate, commercial real estate market, commercial real estate crash, office building prices, office buildings, Inflation, Starwood Capital, debt default, Loan Defaults, Real Estate
Source
Billionaire Barry Sternlicht's firm just defaulted on a $200 million office mor…