GREENWICH, Conn., June 4, 2015 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) today announced that Mark Cagley has been appointed Chief Credit Officer of Starwood Property Trust, effective June 8, 2015. In this role, Mr. Cagley will oversee due diligence and underwriting for all investments. Mr. Cagley will also join the Company's Investment Committee. He replaces Carl Tash, who has served as Interim Chief Credit Officer since 2014. Mr. Tash will return to Starwood Capital Group full-time where he serves as Chief Credit Officer and will remain on Starwood Property Trust's Investment Committee.
"We are pleased to add an executive of Mark's caliber to the Starwood Property Trust executive team. Mark's strong track record and extensive experience and relationships in the commercial real estate industry will enhance our growing platform as we continue to capitalize on the vast opportunity set in the commercial real estate markets. I also would like to thank Carl for his service as over the past year. We're pleased that Carl will continue to serve on the Investment Committee where he is an integral part of our credit process," stated Jeff DiModica, President of Starwood Property Trust.
"Mark's addition underscores our strong focus on credit and risk management. Our sustainable competitive advantage at Starwood Property Trust is our speed, flexibility and ability to underwrite and structure tailored solutions for borrowers and move up and down the capital stack as we see risk and reward dynamics adjust. Mark brings a wealth of hands on experience and will play a key role in our credit process as we continue to grow our franchise," stated Barry Sternlicht, Chairman and Chief Executive Officer of Starwood Property Trust.
Since 2011, Mr. Cagley was employed at Bank of America Merrill Lynch, where he most recently served as the commercial real estate Credit Products Executive for the eastern United States. In this role, he was responsible for the underwriting, structuring, closing and post-closing portfolio management of a diverse $20 billion loan portfolio representing more than 200 client relationships. He was responsible for originations of more than $25 billion over the last three years. He has 30 years of real estate credit experience with Bank of America and Wells Fargo/Wachovia, including senior roles in the commercial Real Estate Capital Markets Loan Syndication units at both institutions.
About Starwood Property Trust, Inc.
Starwood Property Trust (NYSE: STWD), an affiliate of global private investment firm Starwood Capital Group, is the largest commercial mortgage real estate investment trust in the United States. The Company's core business focuses on originating, acquiring, financing and managing commercial mortgage loans and other commercial real estate debt investments. Through its subsidiaries LNR Property, LLC and Hatfield Philips International, Starwood Property Trust also operates as the largest commercial mortgage special servicer in the United States and one of the largest primary and special servicers in Europe. With total capital deployed since inception of approximately $17.0 billion, Starwood Property Trust continues to solidify its position as one of the premier real estate finance companies in the country.
Contact:
Zachary Tanenbaum
Starwood Property Trust
Phone: 203-422-7788
Email: ztanenbaum@starwood.com
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SOURCE Starwood Property Trust, Inc.