GREENWICH, Conn., Jan. 5, 2011 /PRNewswire/ -- Starwood Property Trust (NYSE: STWD) today announced that its external manager, SPT Management, LLC (the "Manager"), has distributed shares of the Company's common stock to certain of its officers and employees of the Manager and its affiliates. These shares of common stock were received by the Manager upon the vesting of restricted stock units that were awarded to the Manager at the time of the Company's initial public offering in August 2009. The Manager expects to make similar distributions in the future on a quarterly basis. Barry Sternlicht, the Company's Chief Executive Officer, has reported indirect ownership over these common shares and restricted stock units due to his control over the Manager. However, Mr. Sternlicht is not selling any of the common shares into the open market. In addition, the Company announced that on December 15, 2010 The Sternlicht Family Foundation, a 501(c)(3) organization, purchased 253,421 shares of Company's common stock at $19.73 per common share for an aggregate purchase price of $5 million in connection with the Company's underwritten public offering.
About Starwood Property Trust, Inc.
Starwood Property Trust, Inc. (NYSE: STWD) is a commercial real estate finance company that is focused primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial 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.
Contact: Investor Relations, +1-203-422-8100, investorrelations@stwdreit.com