GREENWICH, CT-As Vornado Realty Trust’s second-quarter results were bolstered in part by the REIT’s sale of its share of special servicer LNR Property LLC, so Starwood Property Trust‘s Q2 financials gained from its share of LNR ownership. Core earnings for the quarter rose to $69 million, compared to $50 million a year earlier.

“The combination of our operating and origination platform with LNR’s businesses resulted in excellent results for the quarter,” says Barry Sternlicht, chairman and CEO of the Greenwich, CT-based REIT. “With the accretive deployment of over $3 billion of capital since the start of the year, we believe that we are very well positioned to continue to outperform as we made substantial progress in all of our business lines in the quarter.” Starwood Property Trust and Starwood Capital Group paid a total of $1.05 billion to acquire LNR’s businesses; the deal closed in late April.

The REIT’s net income for the three and six months ended June 30, 2013 was approximately $79.4 million and $146.3 million, respectively, excluding expenses stemming from the LNR acquisition. That compares to $44.5 million and $94.6 million, respectively, for the three and six months that ended June 30, 2012.

Andrew Sossen, STWD’s COO, says his company has created “a highly efficient platform that should outperform in various economic scenarios, including a rising interest rate environment, due to a business model which utilizes predominantly match funded LIBOR-based lending and borrowings and a financing policy of matching floating rate investments with floating rate debt and fixed rate investments with fixed rate debt.”  Accordingly, says Sossen, “We believe our portfolio of 106 loans secured by 1,722 properties is substantially insulated from rising rates.”