Starwood Property Trust Announces $131 Million Capital Deployment

Posted by Orb Staff on May 27, 2010 No Comments
Categories : Commercial Mortgage

od Property Trust has deployed $131.4 million of capital through the origination of a $59 million first mortgage loan on a 38-story office building located in Chicago's central business district and through the $72.4 million discounted purchase of a $90.6 million participation in a B-note secured by four resorts in the U.K. ‘These new investments are consistent with our investment philosophy of deploying capital in a disciplined manner which will provide predictable growth and safety in our cashflow stream, thereby enabling us to grow our dividend over time,’ says Leo Huang, head of real estate fixed income for Starwood Capital Group, the company's external manager. ‘We remain confident that we will be able to deploy additional capital at attractive rates of return as spreads widen due to both the uncertainty in the global financial markets and as an increasing volume of loan restructurings and maturities hit the market.’ To date, the company has fully deployed the equity raised in its initial public offering and has made investments totaling approximately $981.2 million. As of today, Starwood Property Trust says it has $220.4 million of cash on hand or available on the term loan facility with Wells Fargo Bank NA. SOURCE: [link=http://www.starwoodpropertytrust.com/phoenix.zhtml?c=231310&p=irol-newsArticle&ID=1431267&highlight=]Starwood Property Trust Inc.

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