View all news

Starwood Property Trust Completes $374 Million Residential Non-Agency Securitization

August 22, 2018

GREENWICH, Conn., Aug. 22, 2018 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) ("Starwood"), announced it has completed its inaugural residential mortgage securitization, STAR 2018-IMC1, a $374 million transaction comprised primarily of non-QM residential loans. The securitization is backed by 100% Impac Mortgage Corp. (NYSE American: IMH) ("Impac") originated or acquired mortgages, and the $275mm senior tranche of STAR 2018-IMC1 received a AAA rating from both S&P and KBRA with over 94% of the transaction rated at least investment grade.

The transaction was comprised of 889 loans with a weighted-average credit score of 732 and loan-to-value of 62.8%.

Mr. Jeffrey F. DiModica, President of Starwood Property Trust commented, "The closing of this securitization represents a further diversification of funding sources for our residential lending cylinder, which is an accretive new business with attractive growth prospects for our multi-cylinder platform."

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 and equity investments. With total capital deployed since inception of over $44 billion, Starwood Property Trust continues to solidify its position as one of the premier real estate finance companies in the country.

Zachary Tanenbaum
Starwood Property Trust
Phone: 203-422-7788

Cision View original content:

SOURCE Starwood Property Trust, Inc.

Categories: Press Releases
View all news