UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 15

      CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION
   12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE
   REPORTS UNDER SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.


                                                  Commission File Number 1-10150


                            Starwood Financial Trust
             (Exact name of registrant as specified in its charter)


                     1114 Avenue of the Americas, 27th Floor
                               New York, NY 10036
                                 (212) 930-9400
    (Address, including zip code, and telephone number, including area code,
                  of registrant's principal executive offices)


                                Class A Preferred
                            $0.01 par value per share
            (Title of each class of securities covered by this Form)


                                      None
       (Titles of all other classes of securities for which a duty to file
                  reports under section 13(a) or 15(d) remains)


         Please place an X in the box(es) to designate the appropriate rule
provision(s) relied upon to terminate or suspend the duty to file reports:

             Rule 12g-4(a)(1)(i)  |X|      Rule 12h-3(b)(1)(i)  |X|
             Rule 12g-4(a)(1)(ii) |_|      Rule 12h-3(b)(1)(ii) |_|
             Rule 12g-4(a)(2)(i)  |_|      Rule 12h-3(b)(2)(i)  |_|
             Rule 12g-4(a)(2)(ii) |_|      Rule 12h-3(b)(2)(ii) |_|
                                           Rule 15d-6           |_|

         Approximate number of holders of record as of the certification or
notice date: 1

         Pursuant to the requirements of the Securities Exchange Act of 1934,
Starwood Financial Trust, Inc. has caused this certification/notice to be signed
on its behalf by the undersigned duly authorized person.


Date: NOVEMBER 3, 1999                     By: /s/ Spencer B. Haber
                                              ----------------------------------
                                              Name: Spencer B. Haber
                                              Title: Chief Financial Officer