Starwood Property Trust plans to spin off of its single-family residential (SFR) business to its stockholders in a newly formed real estate investment trust. The REIT, to be called Starwood Waypoint Residential Trust, will be one of the larger publicly traded investors, owners and operators of U.S. SFR homes and non-performing residential mortgage loans.
Starwood Property Trust’s portfolio, which will be owned and operated by Starwood Waypoint Residential, consisted of 5,817 units in single-family homes and nonperforming loans (NPL), totaling $750 million of invested capital at the end of the third quarter. The NPL portion consisted of 1,549 loans with $413.4 million in unpaid principal balance and $313.6 million in market value of the underlying properties and $197.7 million in book value.
www.omegare.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.