Starwood Property Trust Closes Acquisition of Energy Project Finance Debt Business
Sep 19, 2018, 16:15 ET
GREENWICH, Conn., Sept. 19, 2018 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the completion of its previously announced acquisition of GE Capital's Energy Financial Services' Project Finance Debt Business.
Under the terms of the agreement, Starwood Property Trust acquired, for $2.5 billion, a vertically integrated platform with a seasoned leadership team and 22 full-time employees across loan origination, underwriting, capital markets and asset management, and a loan portfolio consisting of 50 senior loans secured by energy infrastructure real assets, including approximately $470 million of unfunded loan commitments. These amounts exclude $150 million of loans which are subject to an October 15th delayed closing due to potential near term repayment.
About Starwood Property Trust, Inc.
Starwood Property Trust, Inc. (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.
Starwood Property Trust
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SOURCE Starwood Property Trust, Inc.
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