starwood property trust inc (STWD) Key Developments
Starwood Property Trust, Inc. Announces Executive Promotions
Jun 17 15
Starwood Property Trust, Inc. announced that Adam Behlman and Isaac Pesin were promoted to the position of Co-Presidents of its Real Estate Investing & Servicing Division (REIS). They had assumed the roles of Co-heads of REIS earlier this year. In their new role they will oversee the CMBS and real estate investment platform as well as lead LNR Partners, the company's commercial mortgage special servicer. Mr. Behlman has served as the Head of Capital Markets and Chief Risk Officer for LNR since 2011. Prior to this role, Mr. Behlman served as Head of the Real Estate Finance and CMBS division of UBS. Mr. Pesin most recently served as Managing Director of Investments and Business Development for LNR. He started as a Loan Asset Manager in 2003 and across his 11 year career at the firm has held various positions including Co-President of Special Servicing, Director of Business Development, Director of Operations, Team Leader, and Surveillance Manager.
Starwood Property Trust, Inc. Presents at 16th Annual US Real Estate Opportunity & Private Funds Investing Forum, Jun-15-2015 03:05 PM
Jun 12 15
Starwood Property Trust, Inc. Presents at 16th Annual US Real Estate Opportunity & Private Funds Investing Forum, Jun-15-2015 03:05 PM. Venue: Grand Hyatt, Park Avenue at Grand Central Station, New York, NY 10017, United States. Speakers: Christian Dalzell, Chief Originations Officer.
Starwood Property Trust, Inc. Appoints Mark Cagley as Chief Credit Officer
Jun 4 15
Starwood Property Trust, Inc. announced that Mark Cagley has been appointed chief credit officer, effective June 8, 2015. In this role, Cagley will oversee due diligence and underwriting for all investments. Cagley will also join the company's Investment Committee. He replaces Carl Tash, who has served as interim chief credit officer since 2014. Tash will return to Starwood Capital Group full-time where he serves as chief credit officer and will remain on Starwood Property Trust's Investment Committee. Since 2011, Cagley was employed at Bank of America Merrill Lynch, where he most recently served as the commercial real estate Credit Products Executive for the eastern United States. In this role, he was responsible for the underwriting, structuring, closing and post-closing portfolio management of a diverse $20 billion loan portfolio representing more than 200 client relationships. He was responsible for originations of more than $25 billion over the last three years. He has 30 years of real estate credit experience with Bank of America and Wells Fargo/Wachovia, including senior roles in the commercial Real Estate Capital Markets Loan Syndication units at both institutions.
Starwood Property Trust, Inc. Presents at REITWEEK 2015: NAREIT's Investor Forum, Jun-09-2015
May 30 15
Starwood Property Trust, Inc. Presents at REITWEEK 2015: NAREIT's Investor Forum, Jun-09-2015 . Venue: New York Hilton Midtown, 1335 Avenue of the Americas, New York, NY 10019, United States.
Starwood Property Trust, Inc. Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reaffirms Earnings Guidance for the Year 2015
May 5 15
Starwood Property Trust, Inc. announced consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $178,849,000, income before other income, income taxes and non-controlling interests of $57,422,000, income before income taxes of $136,730, net income attributable to the company of $120,363,000, core earnings of $123,682 and core earnings per weighted average diluted share of $0.55. On pro from basis, the book value per diluted share was $17.06 per share. The book value per diluted share was $16.67 per share, reflecting a 1% decline from the $16.84 that they reported at the end of last quarter. This decline is principally due to the impact of the ‘in-the-money’ portion of convert, which is included in diluted share count under GAAP.
For the year 2015, the company is reaffirming its core earnings guidance in the range of $2.05 to $2.25 per diluted share. This guidance reflects the company’s estimates on the yield on existing investments; yield on incremental investments inclusive of the company’s existing pipeline; amount and timing of debt and equity capital deployment to fund new investments; costs of additional debt and equity capital to fund new investments; pace of amortization of the servicing intangible based on the amount and timing of servicing fees on existing contracts; taxation associated with the TRSs, particularly the Investing and Servicing TRSs, which house this segments servicing and conduit loan operations, both of which generate significant taxable income; and changes in costs and expenses reflective of the company’s forecasted operations.