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December 3, 2013
Starwood Property Trust (NYSE: STWD) subsidiary Hatfield Philips International ("Hatfield Philips" or the "Company"), one of Europe's largest primary and special servicers, today announced that Blair Lewis, a 17-year veteran of the structured finance markets, has been appointed Chief Executive Officer, effective January 6, 2014. Mr. Lewis joins Hatfield Philips from The Royal Bank of Scotland (RBS) where he served as Head of Structuring and Origination Europe and Corporate Director RBS Global Banking & Markets. Prior to rejoining RBS in 2008, he was the Head of Origination for ABN-Amro's Structured Property team and held previous positions at RBS and in Societe Generale between 1995 and 2004. Having worked in structured finance markets for over 17 years, Mr. Lewis has significant experience in syndication and the origination of structured property mortgage loans and commercial mortgage-backed securities (CMBS). "After a comprehensive search that included a number of highly qualified ...
December 2, 2013
Starwood Property Trust, Inc. (NYSE: STWD) today announced the upsizing of its existing senior secured term loan to $673.5 million from $300 million.  The term loan, which the Company originally entered into in April 2013, is due April 2020 and is priced at LIBOR plus a margin of 2.75%. The Company will use the proceeds to fund its loan origination and acquisition pipeline. "We continue to access multiple sources of capital in order to extend our debt maturities and lower our overall cost of capital to support the growth of our pipeline of investment opportunities. In 2013 alone, Starwood Property Trust has raised $3.25 billion of capital, comprised of $1.51 billion of common equity, $1.06 billion of convertible notes and $675 million of term loans. Our ability to enhance yields on our investment by utilizing well-priced capital is an important competitive advantage for Starwood Property Trust, and we appreciate the continued support of our investors and lenders," stated Andrew ...
November 7, 2013
Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the third fiscal quarter ended September 30, 2013. The Company's Core Earnings, a Non-GAAP financial measure, were $104.4 million, or $0.61 per diluted share, for the third quarter of 2013, compared to $58.8 million, or $0.50 per diluted share, for the third quarter of 2012. Core Earnings for the nine months ended September 30, 2013 were $231.4 million, or $1.47 per diluted share, compared to Core Earnings for the nine months ended September 30, 2012 of $163.8 million, or $1.52 per diluted share. Core Earnings for the nine months ended September 30, 2013 includes $22.1 million, or $0.14 per diluted share, of one-time expense attributable to the acquisition of LNR. Net income attributable to the Company for the three months ended September 30, 2013 was $89.7 million, or $0.52 per diluted share outstanding, compared to $50.2 million, or $0.43 per diluted share outstanding for the three months ended ...
November 1, 2013
Almacantar, a London-based property investment and development company, Starwood Property Trust, Inc. (NYSE: STWD) and Starwood European Real Estate Finance Limited (LSE: SWEF) today announced they have reached an agreement to refinance the existing loan at Centre Point (the "Property"), one of London's most iconic towers. As part of the agreement, further proceeds can be drawn for the comprehensive refurbishment of the Property. Located at 103 New Oxford St., the 34-story Grade II Listed Property is one of Central London's tallest structures and was originally constructed in 1966. Under terms of the agreement, Starwood Property Trust and Starwood European Real Estate Finance will provide Almacantar with a £220 million first mortgage loan (the "Loan"). Starwood Property Trust will originate £180 million of the Loan and Starwood European Real Estate Finance will provide £40 million. "Almacantar's strategy is to reposition large-scale, complex commercial and residential assets in ...
October 31, 2013
Starwood Property Trust (NYSE: STWD) today announced that its Board of Directors has unanimously approved a spin-off of its single-family residential business to its stockholders. The newly formed real estate investment trust (REIT), to be called Starwood Waypoint Residential Trust, will apply to list on the New York Stock Exchange and trade under the ticker symbol "SWAY." Upon completion of the spin-off, SWAY will be one of the largest publicly traded investors, owners and operators of U.S. single-family rental homes and non-performing residential mortgage loans ("NPLs") in the United States. SWAY Management, an affiliate of Starwood Capital Group, will serve as the manager of SWAY. In connection with the spin-off, Waypoint Real Estate Group ("Waypoint"), a leading vertically integrated single-family rental operating platform, will merge with SWAY Management. Terms of the transaction were not disclosed. As of September 30, 2013, Starwood Property Trust's single-family residential ...
October 15, 2013
Starwood Property Trust (NYSE: STWD) today announced that the Company will release its third quarter 2013 financial results on Thursday, November 7, 2013 before the opening of trading on the New York Stock Exchange.  A conference call will be held on Thursday, November 7, 2013 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:  1-800-289-0496 ...
October 10, 2013
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the co-origination, with Guernsey-based Starwood European Real Estate Finance, of a £288 million first mortgage loan to refinance one of London's tallest and most iconic office buildings, the Heron Tower . Completed in 2011, the 46-story tower located at 110 Bishopsgate is situated in the heart of London. Heron International ("Heron"), a United Kingdom-based property developer which constructed the tower, is the Sponsor. Starwood Property Trust will originate £270 million of the £288 loan and Starwood European Real Estate Finance will originate £18 million. A United States money center bank has agreed to provide a LIBOR-based £210 million collateralized term financing facility to Starwood Property Trust for this transaction – the Company's first based in non dollars and collateralized with non U.S. property – which will be secured by the loan. Starwood Property Trust will retain a £60 million junior investment. ...
September 30, 2013
Starwood Property Trust, Inc. (the "Company") (NYSE: STWD) today announced that it recently deployed $520 million of capital through four separate transactions: the origination of a $145 million first mortgage and mezzanine loan to refinance The Burbank Studios, a 35-acre media campus located in Burbank, Calif.; the origination of a $138 million first mortgage loan for the acquisition of Cisco Systems' 46 acre West Tasman Campus located in San Jose, Calif.; the origination of a $112 million first mortgage loan collateralized by Seaport Square, which consists of 844,820 square feet of land featuring 15 parking lots that is fully entitled for 5.4 million square feet of mixed-use development in Boston's Seaport District; and the co-origination, with United Kingdom-based Starwood European Real Estate Finance, of a €95 million first mortgage loan to refinance a portfolio of 225 retail and convenience stores located in Finland. The Company expects to leverage the domestic loans through the ...
September 23, 2013
In connection with its most recent underwritten public offering, Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the full exercise and closing of the underwriters' option to purchase an additional 3,750,000 shares of the Company's common stock for gross proceeds of approximately $91.1 million .  After giving effect to the full exercise of the option, the Company sold a total of 28,750,000 shares of common stock in the offering for aggregate gross proceeds of approximately $698.6 million .  All of the shares were offered by the Company and were 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 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 ...
September 10, 2013
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the pricing of an underwritten public offering of 25,000,000 shares of its common stock for total estimated gross proceeds of approximately $607.5 million (or approximately $698.6 million if the option to purchase additional shares is exercised in full).  The underwriters have a 30-day option to purchase up to an additional 3,750,000 shares from the Company.  Settlement of the offering is subject to customary closing conditions and is expected to occur on September 13 , 2013.  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 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 ...
September 9, 2013
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it is offering 25,000,000 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 3,750,000 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 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. Citigroup, Deutsche Bank Securities and Wells Fargo Securities will serve as joint book-running managers for the offering. The offering of these securities may be made only by ...
August 8, 2013
Starwood Property Trust (NYSE: STWD) today announced the co-origination, with an affiliate of Fortress Investment Group LLC (NYSE: FIG), of a $285 million loan (the "Loan") on a portfolio of 123 Red Roof Inn Hotels totaling 14,585 rooms in 29 states (the "Portfolio"). The loan is sponsored by a joint venture between Five Mile Capital Partners LLC and Westmont Hospitality Group (the "Sponsors"). The Loan upsizes and extends a $275 million debt package Fortress provided to the Sponsors in August of 2011 to acquire the Portfolio. Starwood purchased the $185 million A-note on the initial loan. The current Loan is a 50%-50% pari-passu structure, with both lenders sharing economics through the last dollar of debt. The Sponsors plan to use the capital to continue to upgrade the properties. Starwood and Fortress affiliates securitized a $200 million senior A-note to increase their investment returns and retained equal portions of the Loan's related B-Note. "We are pleased to partner with ...
August 6, 2013
Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the second fiscal quarter ended June 30, 2013 . The Company's Core Earnings, a Non-GAAP financial measure, were $69.0 million , or $0.42 per diluted share, compared to $50.0 million , or $0.45 per diluted share, for the second quarter of 2012. Core Earnings in the second quarter includes $17.1 million (net of $2.6 million tax benefit), or $0.10 per diluted share, of expense attributable to costs related to the acquisition of LNR Property LLC ("LNR"). Core Earnings for the six months ended June 30, 2013 were $127.1 million (net of $2.6 million tax benefit), or $0.85 per diluted share, compared to Core Earnings for the six months ended June 30, 2012 of $105.0 million , or $1.02 per diluted share. Core Earnings for the six months ended June 30, 2013 includes $21.7 million , or $0.14 per diluted share, of expense attributable to the acquisition of LNR. Net income attributable to the Company for the three and ...
August 1, 2013
Starwood Property Trust (NYSE: STWD) subsidiary Hatfield Philips International Limited (the "Company"), one of Europe's largest primary and special servicers with approximately £18.5 billion assets under management, today announced that Fitch Ratings upgraded its Special Servicer rating to 'CSS2' from 'CSS2-' and affirmed its Primary Servicer rating at 'CPS2'. With the upgrade, Hatfield is among the highest rated Special Servicers in the United Kingdom . "Fitch's upgrade is a strong affirmation of our continuous efforts to enhance operational capabilities as well as our industry leadership in improving transparency in the marketplace," said Matthias Schlueter, Managing Director and Chief Operating Officer of Hatfield Philips. "We understand our reputation as one of the most trusted names in European loan servicing is our greatest asset and will continue to invest in areas that allow us to best serve our clients and continue to set the standard for the industry." In announcing the ...
July 23, 2013
Starwood Property Trust (NYSE: STWD) today announced that the Company will release its second quarter 2013 financial results on Tuesday, August 6 , 2013 before the opening of trading on the New York Stock Exchange.  A conference call will be held on Tuesday, August 6, 2013 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:  1-888-461-2021 International:  ...
July 18, 2013
Starwood Property Trust (NYSE: STWD) today announced it has originated a $140 million first mortgage loan on the Phelan Building (the "Property"), an 11-story, 300,000 square foot mixed use building located in San Francisco's Union Square area. Thor Equities is the sponsor. "We are pleased to provide this transitional capital to help further the sponsor's plan to reposition one of San Francisco's most historic buildings to meet the needs of the City's high profile technology firms and other businesses seeking truly creative office space," said Boyd Fellows, President of Starwood Property Trust. "It is our capacity to quickly deliver customized loan solutions that sets us apart from our competitors." The Property encompasses approximately 250,000 square feet of office space and 50,000 square feet of retail space. The borrower recently signed a lease with Marshall's to occupy a large, corner retail space and has continued to convert office floors from over 500 small jewelry spaces to ...
July 9, 2013
Starwood Property Trust (NYSE: STWD) today announced that it has originated a $225 million first mortgage loan on the Four Seasons Resort Hualalai at Historic Ka'upulehu (the "Resort"), a luxury resort and residential community situated on an 865-acre oceanfront property along the North Kona Coast of Hawaii's Big Island. The loan is sponsored by a joint venture between Rockpoint Real Estate Fund II, L.P. and MSD Capital, L.P. (collectively, the "Sponsor"). The interest rate floats over LIBOR and the loan matures in five years with two one-year extension options. "We are pleased to leverage our scale, flexible capital and deep underwriting experience to provide this large, complex loan, secured by one of Hawaii's most high profile properties, to world class sponsors," said Boyd Fellows , President of Starwood Property Trust. "This transaction further illustrates our unique ability to quickly meet the needs of sophisticated borrowers that require highly tailored financing solutions." ...
June 27, 2013
 Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the pricing of an underwritten public offering of $400,000,000 aggregate principal amount of its 4.00% Convertible Senior Notes due 2019 (the "Notes") for total gross proceeds of $400 million .  The underwriters have a 30-day option to purchase up to an additional $60,000,000 aggregate principal amount of Notes from the Company to cover over-allotments, if any.  Settlement of the offering is subject to customary closing conditions and is expected to occur on July 3 , 2013.  All of the Notes will be issued under the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission.  The Notes will be the Company's senior unsecured obligations and will rank equally with all of its present and future senior unsecured debt and senior to any future subordinated debt. The Notes will pay interest semiannually at a rate of 4.00% per annum and will ...
June 27, 2013
 Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it is offering $400,000,000 aggregate principal amount of its Convertible Senior Notes due 2019 (the "Notes") in an underwritten public offering.  Prior to July 15, 2018 , the Notes will be convertible only upon certain circumstances and during certain periods, and thereafter will be convertible at any time prior to the close of business on the second scheduled trading day prior to maturity. Upon conversion, holders will receive cash, shares of the Company's common stock or a combination thereof at the Company's election. The underwriters will have a 30-day option from the date of the offering to purchase up to an additional $60,000,000 aggregate principal amount of Notes from the Company to cover over-allotments, if any.  All of the Notes will be issued under the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission. The interest rate, ...
May 8, 2013
Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter ended March 31 , 2013.  The Company's Core Earnings, a Non-GAAP financial measure, were $58.1 million , or $0.43 per diluted share, for the quarter, compared to $55.0 million , or $0.58 per diluted share, for the first quarter of 2012. Core Earnings in the first quarter of 2013 includes $4.4 million , or $0.03 per diluted share, of expense attributed to transaction costs related to the acquisition of LNR Property LLC ("LNR").  Core Earnings in the first quarter of 2012 included $12.2 million , or $0.13 per diluted share, of income related to the prepayment of a $143.9 million loan that primarily represented accelerated discount accretion. Net income attributable to the Company for the three months ended March 31, 2013 was approximately $62.2 million, compared to $50.2 million for the three months ended March 31, 2012. Net income per diluted share outstanding for the three months ended ...
April 22, 2013
Starwood Property Trust (NYSE: STWD) and Starwood Capital Group, a leading global private investment firm, on behalf of Starwood Distressed Opportunity Fund IX today announced the completion of their previously announced acquisition of LNR Property LLC ("LNR"), a leading diversified real estate investment, finance, management and development firm. Under the terms of the agreement, Starwood Property Trust acquired the following LNR business segments for a total purchase price of $862 million: the US special servicer, the US investment securities portfolio, Archetype Mortgage Capital, Archetype Financial Institution Services, LNR Europe and 50% of LNR's interest in Auction.com. Starwood Capital Group acquired for $194 million both LNR's US Commercial Property Group and the remaining 50 percent of LNR's ownership interest in Auction.com . Citigroup and Credit Suisse served as financial advisors to Starwood on the transaction and Sidley Austin LLP acted as legal counsel. About Starwood ...
April 16, 2013
Starwood Property Trust (NYSE: STWD) today announced that the Company will release its first quarter 2013 financial results on Wednesday, May 8, 2013 before the opening of trading on the New York Stock Exchange.  A conference call will be held on Wednesday, May 8, 2013 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: 1-888-312-3046 International: ...
April 10, 2013
Starwood Property Trust (NYSE: STWD) today announced that it led the origination of a $475 million first mortgage and mezzanine loan for phase one of Related Companies and Oxford Properties Groups' Hudson Yards Project (the "Project"). Starwood will provide $350 million in funding and the remainder will be contributed by Oxford Properties Group and the United Brotherhood of Carpenters and Joiners. The loan will help finance the development of the development's 1.7 million square foot South Tower located on Manhattan's West Side. The interest rate floats over LIBOR and the loan matures in four years with a one-year extension option. "The Hudson Yards loan represents another example of our ability to attract highly respected sponsors seeking to leverage our industry leading experience and flexible financing solutions for large, complex transactions," said Boyd Fellows , President and Director of Starwood Property Trust. "We are excited to have Starwood Property Trust's name attached to ...
April 9, 2013
 Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the pricing of an underwritten public offering of 26,500,000 shares of its common stock for total estimated gross proceeds of approximately $723.5 million (or approximately $832.0 million if the option to purchase additional shares is exercised in full).  The underwriters have a 30-day option to purchase up to an additional 3,975,000 shares from the Company.  Settlement of the offering is subject to customary closing conditions and is expected to occur on April 12 , 2013.  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 purchase additional commercial mortgage loans and other target assets and investments.  Depending upon the timing of the closing of those transactions, the closing of the ...
April 8, 2013
 Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it is offering 26,500,000 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 3,975,000 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 purchase additional commercial mortgage loans and other target assets and investments.  Depending upon the timing of the closing of those transactions, the closing of the Company's acquisition of certain business segments of LNR Property LLC ("LNR"), and the Company's receipt of funds from asset repayments, sales of assets or other financings, the Company may utilize a portion of the net proceeds to fund a portion of the ...
February 27, 2013
Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fourth quarter and year ended December 31 , 2012.  The Company's Core Earnings, a Non-GAAP financial measure, were $64.5 million , or $0.48 per diluted share, for the quarter, an increase of 14% per diluted share compared to $39.8 million , or $0.42 per diluted share, for the same quarter of 2011.  Core Earnings for 2012 were $228.3 million , or $1.99 per diluted share, an increase of approximately 17% over the per diluted share amount of $1.70 per diluted share for the same period in the prior year. Net income attributable to the Company for the three and twelve months ended December 31, 2012 was approximately $56.3 million and $201.2 million, respectively, compared to $41.0 million and $119.4 million, respectively, for the three and twelve months ended December 31, 2011.  Net income per diluted share outstanding for the fourth quarter 2012 was $0.42, compared to $0.44 in the fourth quarter 2011.  ...
February 19, 2013
Starwood Property Trust (NYSE: STWD) today announced that the Company will release its fourth quarter 2012 financial results on Wednesday, February 27, 2013 before the opening of trading on the New York Stock Exchange.  A conference call will be held on Wednesday, February 27, 2013 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. 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:  1-888-670-2260 ...
February 12, 2013
 Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the pricing of an underwritten public offering of $525,000,000 aggregate principal amount of its 4.55% Convertible Senior Notes due 2018 (the "Notes") for total gross proceeds of $525 million .  The underwriters have a 30-day option to purchase up to an additional $75,000,000 aggregate principal amount of Notes from the Company to cover over-allotments, if any.  Settlement of the offering is subject to customary closing conditions and is expected to occur on February 15 , 2013.  All of the Notes will be issued under the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission.  The Notes will be the Company's senior unsecured obligations and will rank equally with all of its present and future senior unsecured debt and senior to any future subordinated debt. The Notes will pay interest semiannually at a rate of 4.55% per annum and ...
February 11, 2013
 Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it is offering $450,000,000 aggregate principal amount of its Convertible Senior Notes due 2018 (the "Notes") in an underwritten public offering.  Prior to September 1, 2017 , the Notes will be convertible only upon certain circumstances and during certain periods, and thereafter will be convertible at any time prior to the close of business on the second scheduled trading day prior to maturity.  Upon conversion, holders will receive cash, shares of the Company's common stock or a combination thereof at the Company's election.  The underwriters will have a 30-day option from the date of the offering to purchase up to an additional $67,500,000 aggregate principal amount of Notes from the Company to cover over-allotments, if any.  All of the Notes will be issued under the Company's currently effective shelf registration statement filed with the Securities and Exchange ...
January 31, 2013
Starwood Property Trust, Inc. (NYSE: STWD) ("the Company") today announced the tax treatment for the Company's aggregate distributions of $1.86 per share of common stock (CUSIP: 85571B105) paid with respect to the calendar year ended December 31, 2012 : Form 1099 Reference:  (Boxes 1a + 2a + 3)  Box 1a  Box 1b  Box 2a Box 2b Box 3 Record Date Payable Date  Cash Distribution Per Share  Ordinary Taxable Dividend  Taxable Qualified Dividends (1)  Total Capital Gain Distribution Unrecaptured 1250 Gain (2) Nondividend Distributions (3) 12/31/11 01/17/12 0.4400 ...
January 24, 2013
Starwood Property Trust (NYSE: STWD) (the "Company") and Starwood Capital Group, a leading global private investment firm, on behalf of Starwood Distressed Opportunity Fund IX, today announced that they have entered into a definitive agreement to acquire LNR Property LLC ("LNR") for a total purchase price of $1.05 billion in cash. LNR, founded in 1969, is a leading diversified real estate investment, finance, management and development firm with over 550 employees located in 12 offices throughout the US and Europe. Under the terms of the agreement, Starwood Property Trust will acquire the following LNR business segments for a total purchase price of $856 million : US Special Servicer – the largest US special servicer with over $131 billion in loans under management and real estate owned; US Investment Securities Portfolio – a portfolio of legacy whole loans, CMBS and CDO investments; Archetype Mortgage Capital – a commercial real estate conduit loan origination platform designed to ...