{"id":1004022543,"date":"2010-08-18T05:54:57","date_gmt":"2010-08-18T13:54:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004022543"},"modified":"2022-12-05T15:12:49","modified_gmt":"2022-12-05T23:12:49","slug":"starwood-completes-178m-commercial-mortgage-securitization","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/starwood-completes-178m-commercial-mortgage-securitization\/","title":{"rendered":"Starwood Completes $178M Commercial Mortgage Securitization"},"content":{"rendered":"

August 18, 2010
\nBy Allison Landa, News Editor<\/p>\n

Commercial real estate finance firm Starwood Property Trust has completed commercial mortgage securitization of five mortgage loans totaling $178 million. The company separated the loans into senior and junior loans, with the five senior loans contributing a face value of $84 million to the securitization in addition to $92 million in proceeds. Starwood also retained $94 million in junior interests.<\/p>\n

The senior loans, which are comprised of either a senior A note or senior participation, are secured by office, retail and industrial properties and have remaining maturities between four and seven years. The initial purchasers were Goldman, Sachs & Co., Citigroup Global Markets Inc. and Wells Fargo Securities, L.L.C.<\/p>\n

The securitization generated non-recourse match funded financing with an effective cost of funds of approximately 3.5 percent. Starwood Capital Group head of real estate fixed income Leo Huang said that the company\u2019s retained investments are expected to generate returns in excess of 16 percent on a non-recourse, match funded basis. Starwood Capital is the firm\u2019s external manager.<\/p>\n

Starwood Property Trust focuses primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial real estate-related debt investments. The firm has originated or acquired more than $1.3 billion in loans since its IPO in August 2009.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company separated the loans into senior and junior loans, with the five senior loans contributing a face value of $84 million to the securitization in addition to $92 million in proceeds. Starwood also retained $94 million in junior interests.<\/p>\n","protected":false},"author":936,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742],"tags":[],"class_list":["post-1004022543","post","type-post","status-publish","format-standard","hentry","category-finance","category-latest"],"acf":[],"yoast_head":"\nStarwood Completes $178M Commercial Mortgage Securitization - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/starwood-completes-178m-commercial-mortgage-securitization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Starwood Completes $178M Commercial Mortgage Securitization\" \/>\n<meta property=\"og:description\" content=\"The company separated the loans into senior and junior loans, with the five senior loans contributing a face value of $84 million to the securitization in addition to $92 million in proceeds. 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