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Starwood Property Trust Announces Closing of Common Stock Offering

December 15, 2010

GREENWICH, Conn., Dec. 15, 2010 /PRNewswire-FirstCall/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it has completed the sale of 23,000,000 shares of its common stock, including 3,000,000 shares sold pursuant to the exercise in full of the underwriters' over-allotment option, at a price of $19.73 per share.  The net proceeds of the sale were approximately $434.8 million after the underwriting discount and estimated offering expenses.  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 purchase additional commercial mortgage loans and other target assets.  The Company may also use a portion of the net proceeds for other general corporate purposes, including, but not limited to, repayment of outstanding indebtedness and working capital needs.

Citi, Wells Fargo Securities, BofA Merrill Lynch, Deutsche Bank Securities and Goldman, Sachs & Co. served as joint book-running managers for the offering.  

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.  

About Starwood Property Trust, Inc.

The Company focuses primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial real estate debt investments, commercial mortgage-backed securities and other commercial real estate-related debt investments.  In addition, the Company may invest in commercial properties subject to net leases.  The Company also invests in residential mortgage loans and residential mortgage-backed securities.  The Company 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.

Forward Looking Statements

Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company's expectations include completion of pending investments, continued ability to acquire additional investments, competition within the finance and real estate industries, economic conditions, and other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

SOURCE Starwood Property Trust, Inc.

Contact: Investor Relations, +1-203-422-8100,
Categories: Press Releases
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