Starwood Real Estate Income Trust 424B3Prospectus supplement

Filed Pursuant to Rule 424(b)(3)

Registration No. 333-262589

STARWOOD REAL ESTATE INCOME TRUST, INC.

SUPPLEMENT NO. 8 DATED OCTOBER 17, 2024

TO THE PROSPECTUS DATED APRIL 10, 2024

This prospectus supplement (“Supplement”) is part of and should be read in conjunction with the prospectus of Starwood Real Estate Income Trust, Inc., dated April 10, 2024 (as supplemented to date, the “Prospectus”). Unless otherwise defined herein, capitalized terms used in this Supplement shall have the same meanings as in the Prospectus. References herein to the “Company,” “we,” “us,” or “our” refer to Starwood Real Estate Income Trust, Inc. and its subsidiaries unless the context specifically requires otherwise.

The purposes of this Supplement are as follows:

November 1, 2024 Transaction Price

The transaction price for each share class of our common stock for subscriptions accepted as of November 1, 2024 (and repurchases as of October 31, 2024) is as follows:

The November 1, 2024 transaction price for each of our share classes is equal to such class’s NAV per share as of September 30, 2024. A detailed presentation of the NAV per share is set forth below. The purchase price of our common stock for each share class equals the transaction price of such class, plus applicable upfront selling commissions and dealer manager fees.

September 30, 2024 NAV Per Share

NAV per share is calculated in accordance with the valuation guidelines that have been approved by our board of directors. Our NAV per share, which is updated as of the last calendar day of each month, is posted on our website at www.starwoodNAV.reit. Please refer to “Net Asset Value Calculation and Valuation Guidelines” in the Prospectus for information on how our NAV is determined. The Advisor is ultimately responsible for determining our NAV. We have included a breakdown of the components of total NAV and NAV per share as of September 30, 2024 along with the immediately preceding month.

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Our total NAV presented in the following tables includes the NAV of our Class S, Class T, Class D, and Class I common shares, as well as partnership interests of the Operating Partnership held by parties other than the Company. The following table provides a breakdown of the major components of our NAV as of September 30, 2024 ($ and shares/units in thousands):

The following table provides a breakdown of our total NAV and NAV per share, by share class, as of September 30, 2024 ($ and shares/units in thousands, except per share/unit data):

Set forth below are the weighted averages of the key assumptions in the discounted cash flow methodology used in the September 30, 2024 valuations, based on property types. Once we own more than one single-family, one self-storage and one extended stay investment, we will include the key assumptions for the property types.

For quarter-end months, these assumptions are determined by the independent valuation advisor or third party appraisers, as

applicable, per the terms of our valuation guidelines. The Advisor reviews the assumptions from each of the appraisals. A change in

these assumptions would impact the calculation of the value of our property investments. For example, assuming all other factors

remain unchanged, the changes listed below would result in the following effects on our investment values:

The following table provides a breakdown of the major components of our NAV as of August 31, 2024 ($ and shares/units in thousands):

The following table provides a breakdown of our total NAV and NAV per share, by share class, as of August 31, 2024 ($ and shares/units in thousands, except per share/unit data):

Share Repurchase Request Update

On May 23, 2024, we amended our share repurchase plan such that, beginning with repurchases during the month of May 2024, we will limit share repurchases to 0.33% of NAV per month (measured using the aggregate NAV attributable to stockholders as of the end of the immediately preceding month) and, beginning on July 1, 2024, we will limit share repurchases to 1% of NAV per quarter (measured using the aggregate NAV attributable to stockholders as of the end of the immediately preceding quarter).

In July 2024, we received repurchase requests in excess of the 0.33% monthly limit. As per the terms of our share repurchase plan, we honored all repurchase requests for July 2024 on a pro rata basis up to the 0.33% monthly limitation. As such, approximately 4% of each stockholder’s July repurchase request was satisfied.

In August 2024, we received repurchase requests in excess of the 0.33% monthly limit. As per the terms of our share repurchase plan, we honored all repurchase requests for August 2024 on a pro rata basis up to the 0.33% monthly limitation. As such, approximately 4% of each stockholder’s August repurchase request was satisfied.

In September 2024, we received repurchase requests in excess of the 1.0% quarterly limit. As per the terms of our share repurchase plan, we honored all repurchase requests for September 2024 on a pro rata basis up to the 1.0% quarterly limitation. As such, approximately 4% of each stockholder’s September repurchase request was satisfied.

In accordance with our repurchase plan, on September 30, 2024, we repurchased all of the shares from stockholders that held less than $500 in shares of our common stock and, as such, we exceeded the 1% quarterly limitation by $11,736, as authorized by our board of directors.

Status of our Current Public Offering

This Offering was declared effective by the SEC on August 10, 2022 and we are currently offering on a continuous basis up to $18.0 billion in shares of common stock, consisting of up to $16.0 billion in shares in our primary offering and up to $2.0 billion in shares pursuant to our distribution reinvestment plan. As of the date hereof, we had issued and sold (i) 48,908,374 shares of our common stock (consisting of 17,241,048 Class S shares, 259,967 Class T shares, 2,436,710 Class D shares and 28,970,649 Class I shares) in the primary offering for total proceeds of approximately $1.3 billion and (ii) 17,435,456 shares of our common stock (consisting of 8,159,901 Class S shares, 305,291 Class T shares, 1,037,599 Class D shares and 7,932,665 Class I shares) pursuant to our distribution reinvestment plan for a total value of approximately $0.4 billion. As of September 30, 2024, our aggregate NAV was approximately $9.3 billion. We intend to continue selling shares in the Offering on a monthly basis.