December 13, 2012
Starwood Property Trust (NYSE: STWD) today announced that its Board of Directors has authorized an extraordinary dividend of $0.10 per share of common stock, payable on January 15, 2013 to common stockholders of record as of December 31, 2012 . This extraordinary dividend is in addition to the $0.44 per share regular dividend for the fourth quarter of 2012 that was previously declared by the Company's Board of Directors on November 6, 2012 . The extraordinary dividend brings the Company's annual payout rate to $1.86 per share representing a yield of 8.2% based on the Company's closing share price on December 12, 2012. The Company's dividend policy will continue to be evaluated and set by the Board of Directors on a quarterly basis. About Starwood Property Trust, Inc. Starwood Property Trust, Inc. is focused on originating, investing in, financing and managing commercial mortgage loans and other commercial real estate debt investments, commercial mortgage-backed securities ("CMBS"),
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November 7, 2012
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company" or "we") today announced operating results for the third quarter ended September 30 , 2012. The Company's Core Earnings, a Non-GAAP financial measure, were $58.8 million , or $0.50 per diluted share, for the quarter, an increase of 49% compared to $39.3 million , or $0.42 per diluted share, for the third quarter of 2011. Core Earnings for the first nine months of 2012 were $163.8 million , or $1.52 per diluted share, an increase of approximately 19% over the per diluted share amount for the same period in the prior year of $1.28 per diluted share. Core Earnings for the third quarter 2012 includes $9 million , or $0.08 per diluted share, of income related to the sale of securities. Net income attributable to the Company for the three and nine months ended September 30, 2012 was approximately $50.2 million and $144.9 million, respectively, compared to $14.5 million and $78.3 million, respectively, for the same period in 2011.
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November 1, 2012
Starwood Property Trust (NYSE: STWD) today announced that it has originated a $126.0 million first mortgage loan and mezzanine loan on a 25-story, Class A office building located in the heart of San Francisco 's Financial District. The property, known as 100 Montgomery, is situated on the corner of Sutter and Montgomery Streets and totals more than 420,000 square feet. Blackstone Real Estate Partners VII is the sponsor. The total financing will have an initial funding of $115.5 million with $10.5 million of future funding for tenant improvements and leasing commissions. The interest rate floats over LIBOR and the loan matures in three years with two one-year extension options. Starwood intends to sell the first mortgage in the near term to increase its investment returns while retaining the mezzanine loan. "We are excited to complete another complex financing transaction with Blackstone," said Boyd Fellows , President and Director of Starwood Property Trust. "Similar to the $61
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October 24, 2012
Starwood Property Trust (NYSE: STWD) today announced that the Company will release its third quarter 2012 financial results on Wednesday, November 7, 2012 before the opening of trading on the New York Stock Exchange. A conference call will be held on Wednesday, November 7, 2012 at 10:00 a.m. Eastern time . During the conference call, the Company's officers will review third quarter performance, discuss recent events and conduct a question-and-answer period. Webcast The conference call will also be available in the Investor Relations section of the Company's website at www.starwoodpropertytrust.com . To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the call will also be available for 90 days on the Company's website. To Participate in the Telephone Conference Call: Dial in at least five minutes prior to start time. Domestic: 1-877-548-7915
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October 22, 2012
Starwood Property Trust (NYSE: STWD) and Starwood Capital Group (on behalf of Starwood Distressed Opportunity Fund IX) today announced the sale to Vornado Realty Trust (NYSE: VNO) of a 25 percent participation in both the first mortgage and mezzanine loan on 701 Seventh Avenue in the Times Square area of Manhattan . On October 16, 2012, Starwood Property Trust and Starwood Capital Group announced the co-origination of a $475 million first mortgage and mezzanine financing for the acquisition and redevelopment of a 10-story retail building located in Times Square. $375 million was funded at closing and $100 million will be funded upon reaching certain milestones during the transformation of the property. STWD, Starwood Distressed Opportunity Fund IX, and VNO have now funded $210.9 million, $70.3 million and $93.8 million, respectively, and each party will fund their pro rata share of any future fundings. Following the sale to Vornado, the Starwood entities retained the controlling
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October 16, 2012
Starwood Property Trust (NYSE: STWD) and Starwood Capital Group (on behalf of Starwood Distressed Opportunity Fund IX) today announced the co-origination of a $475 million first mortgage loan and mezzanine loan for the acquisition and redevelopment of a 10-story retail building located at 701 Seventh Avenue in Midtown Manhattan. The building is situated on the northeast corner of the famed Times Square bow tie, one of the world's busiest shopping stretches with an estimated 500,000 visitors per day. The loan will have an initial funding of $375 million with $100 million of future funding for redevelopment costs and also contains an equity participation right for the lender. The primary sponsor is The Witkoff Group , a fully integrated real estate investment firm. "This transaction is a prime example of our unique ability to provide and structure large, highly specialized loans on an expedited timetable that meets the needs of the borrowers while also completing our disciplined
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October 11, 2012
Starwood Property Trust (NYSE: STWD) today announced that it recently deployed $107 million of capital through two separate transactions: the origination of a $61 million first mortgage loan on two Class B+/A- office buildings located in Glendale, California ; and a $46 million first mortgage loan on a 315-room Hilton hotel located in Rockville, Maryland . The Blackstone Group , one of the world's leading investment and advisory firms, is the sponsor of the California office loan and The JBG Companies , one of the largest owners, developers and managers of residential, hotel and retail properties in the Washington metropolitan area, is the sponsor of the Maryland hotel loan. "Our large scale and experience originating complex loans sets us apart in the market, and we will continue to work with borrowers to structure flexible financing solutions that meet their unique needs," said Boyd Fellows, President of Starwood Property Trust. "We remain focused on identifying origination
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October 4, 2012
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the pricing of an underwritten public offering of 16,000,000 shares of its common stock for total estimated gross proceeds of approximately $368 million . The underwriters have a 30-day option to purchase up to an additional 2,400,000 shares from the Company. Settlement of the offering is subject to customary closing conditions and is expected to occur on October 10, 2012 . All of the shares will be issued under the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission. The Company intends to use the net proceeds received from the offering to originate and to purchase additional commercial mortgage loans and other target assets and investments. The Company may also use a portion of the net proceeds for other general corporate purposes, including, but not limited to, the payment of liabilities and other working capital needs. BofA
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October 3, 2012
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it is offering 14,500,000 shares of its common stock in an underwritten public offering. The underwriters will have a 30-day option from the date of the offering to purchase up to an additional 2,175,000 shares from the Company. All of the shares will be issued under the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission. The Company intends to use the net proceeds received from the offering to originate and to purchase additional commercial mortgage loans and other target assets and investments. The Company may also use a portion of the net proceeds for other general corporate purposes, including, but not limited to, the payment of liabilities and other working capital needs. BofA Merrill Lynch and Citigroup are acting as the underwriters for the offering. The offering of these securities may be made only by means of a
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July 17, 2012
Starwood Property Trust (NYSE: STWD) today announced that the Company will release its second quarter 2012 financial results on Tuesday, August 7, 2012 before the opening of trading on the New York Stock Exchange. A conference call will be held on Tuesday, August 7, 2012 at 10:00 a.m. Eastern time . During the conference call, the Company's officers will review second quarter performance, discuss recent events and conduct a question-and-answer period. Webcast The conference call will also be available in the Investor Relations section of the Company's website at www.starwoodpropertytrust.com . To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the call will also be available for 90 days on the Company's website To Participate in the Telephone Conference Call: Dial in at least five minutes prior to start time. Domestic: 1-888-395-3241 International:
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June 12, 2012
Starwood Property Trust, Inc. (NYSE: STWD), today announced that their June 7th RetailInvestorConferences.com presentation is now available for on-demand viewing. LINK: www.retailinvestorconferences.com > red "register/ watch event now" button Starwood Property Trust, Inc.'s presentation will be available 24/7 for 90 days. Investors may download shareholder materials from the "virtual trade booth" for the next three weeks. About Starwood Property Trust, Inc. Starwood Property Trust (NYSE: STWD), focuses primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial and residential real estate-related debt investments. Starwood Property Trust, Inc. is externally managed and advised by SPT Management, LLC, an affiliate of Starwood Capital Group, and has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes. About RetailInvestorConferences.com Since 2010, RetailInvestorConferences.com , created by
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June 4, 2012
Starwood Property Trust (NYSE: STWD) today announced that the Company will be presenting at the 2012 Keefe, Bruyette & Woods Mortgage Finance Conference at the Crowne Plaza Hotel in New York, NY on Tuesday, June 5 , 2012. The presentation will begin at 4:00 p.m. Eastern time . A live webcast of the presentation will be accessible from the Investor Relations section of Starwood's website at www.starwoodpropertytrust.com. There will be a replay available following the presentation which will remain on the Company's website for ninety days. About Starwood Property Trust, Inc. Starwood Property Trust, Inc. focuses primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial and residential real estate-related investments. Starwood Property Trust, Inc. is externally managed and advised by SPT Management, LLC, an affiliate of Starwood Capital Group, and has elected to be taxed as a real estate investment trust for U.S. federal income tax
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May 30, 2012
Starwood Property Trust, Inc. (NYSE: STWD) today announced that Boyd Fellows, Director & President, will present at RetailInvestorConferences.com . DATE: June 7, 2012 TIME: 1:00 PM EDT LINK: www.retailinvestorconferences.com > red "register / watch event now" button This will be a live, interactive online event where investors are invited to ask the company questions in real-time - both in the presentation hall as well as the company's "virtual trade booth." If attendees are not able to join the event live on the day of the conference, an on-demand archive will be available for 90 days. It is recommended that investors pre-register to save time and receive event updates. About Starwood Property Trust, Inc. Starwood Property Trust (NYSE: STWD), focuses primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial and residential real estate-related debt investments. Starwood Property Trust, Inc. is externally managed and advised by SPT
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May 14, 2012
Starwood Property Trust (NYSE: STWD) today announced that it is co-originating a $238 million financing package, made up of a $125 million first mortgage loan, a $40 million senior mezzanine loan, and a $73 million junior mezzanine loan, which loan is the portion funded by Starwood Property Trust and is composed of a $45 million portion to be funded initially and a $28 million future funding component, allocated for capital improvements, tenant improvements and leasing commissions. The collateral is a six-property, Class B+/B office building portfolio totaling over one million square feet located in Rosslyn, Virginia . The sponsor is a partnership between Monday Properties and U.S. Real Estate Opportunities I, L.P., an investment fund managed by The Goldman Sachs Group, Inc. "Our large scale and experience sets us apart in the marketplace, and allows us to provide creative financing solutions to our borrowers," said Boyd Fellows, Director and President of Starwood Property Trust. "We
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May 10, 2012
Starwood Property Trust (NYSE: STWD) today announced that it has originated a $170 million first mortgage loan on two Class B office buildings located in the SoHo district of Midtown Manhattan. Collectively known as One SoHo Square , the two properties located at 161 Avenue of the Americas and 233 Spring Street comprise over 600,000 square feet of office and retail space, which is currently 96 percent occupied. Stellar Management is the sponsor. The first mortgage loan will have an initial funding of $135 million, with $35 million available for future advances to pay for tenant improvements, leasing commissions and redevelopment costs. The interest rate for the loan floats over LIBOR, matures in 3 years with 2 one-year extension options, and has a loan-to-value ratio of approximately 65 percent. "The One SoHo Square deal is another example of our ability to provide borrowers with creative lending solutions. Our large scale and flexible capital made it possible for us to principal
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May 8, 2012
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced operating results for the first fiscal quarter ended March 31, 2012 . The Company's Core Earnings, a Non-GAAP financial measure, were $55.0 million , or $0.58 per diluted share, for the quarter, an increase of 75% compared to $31.4 million , or $0.43 per diluted share, for the first quarter of 2011. Core Earnings include $12.2 million , or $0.13 per diluted share, of income related to the prepayment of a $143.9 million loan that primarily represents accelerated discount accretion. Net income attributable to the Company for the three months ended March 31, 2012 was approximately $50.2 million, compared to $31.4 million for the three months ended March 31, 2011. Net income per diluted share outstanding for the three months ended March 31, 2012 was $0.53, compared to $0.43 for the three months ended March 31, 2011. "The first quarter of 2012 was extremely productive as we invested over $500 million , bringing
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April 20, 2012
Starwood Property Trust (NYSE: STWD) today announced that the Company will release its first quarter 2012 financial results on Tuesday, May 8, 2012 before the opening of trading on the New York Stock Exchange. A conference call will be held on Tuesday, May 8, 2012 at 10:00 a.m. Eastern time . During the conference call, the Company's officers will review first quarter performance, discuss recent events and conduct a question-and-answer period. Webcast The conference call will also be available in the Investor Relations section of the Company's website at www.starwoodpropertytrust.com . To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the call will also be available for 90 days on the Company's website To Participate in the Telephone Conference Call: Dial in at least five minutes prior to start time. Domestic: 1-888-349-9587 International:
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April 17, 2012
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the pricing of an underwritten public offering of 20,000,000 shares of its common stock. The underwriters have a 30-day option to purchase up to an additional 3,000,000 shares from the Company. Settlement of the offering is subject to customary closing conditions and is expected to occur on April 20, 2012 . All of the shares will be issued under the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission. The Company intends to use the net proceeds received from the offering to originate and to purchase additional commercial mortgage loans and other assets. The Company may also use a portion of the net proceeds for other general corporate purposes, including, but not limited to, the payment of liabilities and other working capital needs. Citigroup and Wells Fargo Securities are acting as the underwriters for the offering. The offering of these securities
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April 16, 2012
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it is offering 20,000,000 shares of its common stock in an underwritten public offering. The underwriters will have a 30-day option from the date of the offering to purchase up to an additional 3,000,000 shares from the Company. All of the shares will be issued under the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission. The Company intends to use the net proceeds received from the offering to originate and to purchase additional commercial mortgage loans and other assets. The Company may also use a portion of the net proceeds for other general corporate purposes, including, but not limited to, the payment of liabilities and other working capital needs. Citigroup and Wells Fargo Securities are acting as the underwriters for the offering. The offering of these securities may be made only by means of a prospectus and a related prospectus
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March 5, 2012
Starwood Property Trust (NYSE: STWD) today announced that the Company will be presenting at the 2012 Citi Financial Services Conference at the Waldorf Astoria in New York, NY on Wednesday, March 7 , 2012. The presentation will begin at 8:45 AM Eastern time . Investors and interested parties may access a copy of the presentation in the Investor Relations section of Starwood's website at www.starwoodpropertytrust.com. About Starwood Property Trust, Inc. Starwood Property Trust, Inc. focuses primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial and residential real estate-related debt investments. Starwood Property Trust, Inc. is externally managed and advised by SPT Management, LLC, an affiliate of Starwood Capital Group, and has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes. SOURCE Starwood Property Trust, Inc.
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February 29, 2012
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced operating results for the fourth fiscal quarter and year ended December 31, 2011 . The Company's Core Earnings, a Non-GAAP financial measure, were $39.8 million or $0.42 per diluted share for the quarter, compared to $39.3 million or $0.42 per diluted share for the prior quarter. The Core Earnings for the year ended December 31, 2011 totaled $146.6 million , or $1.70 per diluted share, an increase of 27% over the per diluted share amount for the same period in the prior year of $1.34 per diluted share. Net income attributable to the Company for the three months and year ended December 31, 2011 was approximately $41.0 million and $119.4 million, respectively, compared to $17.6 million and $57.0 million, respectively, for the three months and year ended December 31, 2010. Net income per diluted share outstanding for the three months and year ended December 31, 2011 were $0.44 and $1.38, respectively, compared
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February 21, 2012
Starwood Property Trust (NYSE: STWD) today announced that it has rescheduled its fourth quarter 2011 webcast and conference call by one day due to a scheduling conflict. The webcast and conference call will now be held on Wednesday, February 29, 2012 at 10:00 a.m. Eastern time . The Company will release its fourth quarter 2011 financial results on Wednesday, February 29, 2012 before the opening of trading on the New York Stock Exchange. Webcast The conference call will also be available in the Investor Relations section of the Company's website at www.starwoodpropertytrust.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the call will also be available for 90 days on the Company's website. To Participate in the Telephone Conference Call: Dial in at least five minutes prior to start time. Domestic: 1-888-282-4591 International: 1-719-325-2312
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February 9, 2012
Starwood Property Trust (NYSE:STWD) today announced that the Company will release its fourth quarter 2011 financial results on Tuesday, February 28, 2012 before the opening of trading on the New York Stock Exchange. A conference call will be held on Tuesday, February 28, 2012 at 10:00 a.m. Eastern time. During the conference call, the Company’s officers will review fourth quarter performance, discuss recent events and conduct a question-and-answer period. To Participate in the Telephone Conference Call: Dial in at least five minutes prior to start time. Domestic: 1-888-282-4591 International: 1-719-325-2312 Conference Call Playback: Domestic: 1-877-870-5176 International: 1-858-384-5517 Passcode: 5495872 The playback can be accessed through March 13, 2012 Webcast The conference call will also be available in the Investor Relations section of the Company’s website at www.starwoodpropertytrust.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the
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February 1, 2012
Starwood Property Trust, Inc. (NYSE: STWD) ("the Company") today announced the tax treatment for the Company's aggregate distributions of $1.5814 per share of common stock (CUSIP: 85571B105) paid with respect to the calendar year ended December 31, 2011 : Form 1099 Reference: Boxes 1a + 2a + 3 Box 1a Box 1b Box 2a Box 2b Box 3 Record Date Payment Date Total 2011 Distribution Per Share Ordinary Taxable Dividends Taxable Qualified Dividends (1) Capital Gain Distribution Unrecaptured 1250 Gain (2) Nondividend Distributions (3) 12/31/2010 1/17/2011 $0.2814 $0.1962 $0.0026 $0.0195 $ - $0.0657 3/31/2011 4/15/2011 0.4200 0.2929
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January 3, 2012
Starwood Property Trust (NYSE: STWD) today announced that during the quarter ended December 31, 2011 the Company completed $570 million of new investments in four separate transactions, resulting in an investment portfolio with a book value at quarter end currently estimated to be in excess of $2.8 billion . Two significant transactions that closed late in the quarter include the discounted acquisition from a top tier international bank of a portfolio of 26 separate commercial mortgage loans with a face value of $333 million and the acquisition of a $185 million A-note secured by a portfolio of 143 limited service hotels. The bank portfolio consists of 23 senior first mortgages and three second mortgages secured by office, retail, multifamily and assisted living assets that total in excess of 3.0 million square feet across 13 states. At closing, the portfolio has a weighted average loan to value of approximately 62.7%, weighted average debt yield of approximately 11.7% and a
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