Barry Sternlicht
NEW YORK–Starwood Property Trust has closed itspreviously announced $2.5 billion acquisition of GE Capital's EnergyFinancial Services' Project Finance Debt Business.
The platform Starwood acquired does loan origination,underwriting, capital markets and asset management, and has a loanportfolio consisting of 50 senior loans secured by energyinfrastructure real assets, including approximately $470 million ofunfunded loan commitments. Another $150 million of loans wereexcluded from the final close due to potential near termrepayment.
“A Multi-Cylinder Finance Company”
When the deal was first announced in August, Starwood PropertyTrust's Chairman and CEO Barry Sternlicht said the acquisition waspart of the REIT's push to be a “multi-cylinder financecompany.”
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
