Starwood Property Trust : Completes $374 Million Residential Non-Agency Securitization
August 22, 2018 at 04:22 pm EDT
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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.
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SOURCE Starwood Property Trust, Inc.
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Starwood Property Trust Inc. published this content on 22 August 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 August 2018 20:21:09 UTC
Starwood Property Trust, Inc. is a real estate investment trust. The Company's segments include Commercial and Residential Lending, Infrastructure Lending, Property, and Investing and Servicing. Commercial and Residential Lending segment is engaged in originating, acquiring, financing and managing commercial first mortgages, non-agency residential mortgages, subordinated mortgages, mezzanine loans, preferred equity, commercial mortgage-backed securities, residential mortgage-backed securities and other real estate and real estate-related debt investments in the United States, Europe and Australia. Infrastructure Lending segment is engaged in originating, acquiring, financing and managing infrastructure debt investments. Property segment is engaged primarily in acquiring and managing equity interests in stabilized commercial real estate properties. Investing and Servicing segment includes a servicing business in the United States; an investment business, and a mortgage loan business.
STARWOOD PROPERTY TRUST, INC. 
