Starwood Property Trust, Inc. : Starwood Property Trust Announces $238 Million of Capital Commitments
05/14/2012| 04:05pm US/Eastern
GREENWICH, Conn., May 14, 2012 /PRNewswire/ -- Starwood Property Trust (NYSE: STWD) today announced that it is co-originating a $238 million financing package, made up of a $125 million first mortgage loan, a $40 million senior mezzanine loan, and a $73 million junior mezzanine loan, which loan is the portion funded by Starwood Property Trust and is composed of a $45 million portion to be funded initially and a $28 million future funding component, allocated for capital improvements, tenant improvements and leasing commissions. The collateral is a six-property, Class B+/B office building portfolio totaling over one million square feet located in Rosslyn, Virginia. The sponsor is a partnership between Monday Properties and U.S. Real Estate Opportunities I, L.P., an investment fund managed by The Goldman Sachs Group, Inc.
"Our large scale and experience sets us apart in the marketplace, and allows us to provide creative financing solutions to our borrowers," said Boyd Fellows, Director and President of Starwood Property Trust. "We are pleased to continue deploying capital as we source attractive investments such as the Rosslyn portfolio, located in one of the best performing submarkets of Washington, D.C."
The portfolio of office buildings is leased to a mix of public and private sector tenants including the Department of State, the Department of Defense, The Boeing Company and Tetra Tech.
About Starwood Property Trust, Inc.
Starwood Property Trust, Inc. focuses primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial and residential real estate-related 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.