STAMFORD, CT-The Starwood Property Trust is deploying $271.9million for three loan originations secured by separate portfolios.There is a $206-million first mortgage, mezz and bridge loans for a10-property portfolio of full service hotels; as well as $33.9million for first and mezz loans on a portfolio of drug storelocations throughout the US; and a $32-million first mortgage loanfor a retail development in Vail, CO.

A recent stock offering supplied the cash for the originations.The hotel loans break down to a $155-million first mortgage loan,secured by eight full service hotels; a $37-million mezzanine loanand a $14-million bridge loans secured by two full service hotels.On aggregate the LTV of the three loans is less than 62%. Thefirst and mezz loans mature in 2016, while the bridge’s maturity is2012. Starwood will keep the mezz and bridge loans, as well as a Bnote from the first mortgage loan, while securitizing the Anote.

The drug stores are all six Walgreens, leased on NNN for thenext 20 years, and secure the first mortgage and mezz loans. Bothloans mature in 2012, while the first mortgage will be contributedto a securitization, the mezz loan will stay in Starwood’shands.