Starwood Makes $175M Worth of Capital Commitments

The company will invest in three separate transactions: $138 million for a renovation loan on the Hyatt Regency New Orleans; the purchase of an $85 million subordinate first mortgage loan secured by a regional mall in Ohio, bought at a discount for $68.6 million; and the $45.5 million participation in a B-note secured by four British resorts for the discounted price of $37.4 million.

July 15, 2010
By Allison Landa, News Editor

Continuing to spread its wings, Starwood Property Trust has announced $175 million in capital commitments. The company will invest in three separate transactions: $138 million for a renovation loan on the Hyatt Regency New Orleans; the purchase of an $85 million subordinate first mortgage loan secured by a regional mall in Ohio, bought at a discount for $68.6 million; and the $45.5 million participation in a B-note secured by four British resorts for the discounted price of $37.4 million.

The company, which will release its second-quarter earnings data on July 22, yesterday debuted the Romanos luxury resort in Greece. It focuses primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial real estate-related debt investments.

“These investments offer attractive rates of return on high-quality assets that reflect the company’s expertise in originating and buying loans, as well as its ability to transact in scale,” Starwood head of real estate fixed income Leo Huang said when announcing the news. “We remain focused on safety and yield.”

The hotel loan matures in July 2016, while the mall loan matures in August 2017. The corporate loan matures in October 2013.

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