Starwood Prpty - STWD STOCK NEWS

Starwood Property Trust (NYSE: STWD) has completed several significant capital markets transactions in December 2024, strengthening its financial position. The company priced $500 million in sustainability notes due July 2030, extended and upsized its $767 million Term Loan B to $900 million, increased its revolving credit facility by $50 million to $200 million, and repriced its $590 million Term Loan B to $690 million.

These transactions have collectively extended the weighted average corporate debt maturity from 2.2 to 3.5 years, lowered borrowing costs, and generated $783 million of new capital for deployment. The company achieved record-low spreads on its debt facilities and will have no corporate debt maturities until July 2026 after repaying upcoming notes.

Starwood Property Trust (NYSE: STWD) has successfully priced a private offering of $500 million in sustainability bonds, upsized from the initially announced $400 million. The 6.500% unsecured senior notes, due 2030, priced at 100.0% of the principal amount, with settlement expected on December 27, 2024.

The company plans to use the net proceeds to finance or refinance eligible green and/or social projects. Initially, funds will be directed towards repaying the company's $400 million 3.750% Senior Notes due 2024 and for general corporate purposes, including repayment of outstanding indebtedness under secured financing agreements.

The Notes are exclusively offered to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act, and will not be initially registered under the Securities Act or state securities laws.

Starwood Property Trust (NYSE: STWD) has announced a private offering of $400 million in unsecured senior notes due 2030. The sustainability bonds will be used to finance or refinance eligible green and/or social projects. The immediate plan is to use the proceeds to repay the company's existing $400 million of 3.750% Senior Notes due 2024.

The offering is restricted to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act. The Notes will not be initially registered under the Securities Act or state securities laws, requiring registration or applicable exemption for U.S. trading.

Treehouse Hotel Silicon Valley, the first U.S. location of the Treehouse Hotels brand, is now accepting reservations for stays beginning March 1, 2025. Located in Sunnyvale, California, the hotel features 111 rooms (expanding to 254), over 7,000 square feet of meeting space, and grounds planted with native trees and 20,000+ plants. The property includes Valley Goat restaurant by James Beard Award-winning chef Stephanie Izard, a Beer Garden offering 30+ craft beers, an outdoor heated pool, and complimentary bikes. The hotel combines playful design elements with tech-inspired features, paying homage to Silicon Valley's innovation heritage while maintaining a nature-focused atmosphere.

Starwood Property Trust (NYSE: STWD) reported Q3 2024 results with GAAP earnings of $0.23 and Distributable Earnings of $0.48 per diluted share. The company posted GAAP net income of $76.1 million, including a $66.4 million credit loss provision. During the quarter, STWD originated or acquired $2.1 billion in assets, received $1.6 billion in repayments, and raised $800 million of capital, bringing liquidity to a record $1.8 billion. The company maintained its $0.48 dividend per share and reported an undepreciated book value per share of $20.22. With a leverage ratio of 2.1x and commercial lending representing about 60% of total assets, STWD highlighted its strong position in infrastructure lending, conduit, and special servicing.

Pacific Retail Capital Partners (PRCP) has acquired Kings' Shops in Waikoloa, Hawaii, in partnership with Starwood Property Trust (STWD) and Taconic Capital Advisors. The nearly 70,000-square-foot luxury resort retail destination marks PRCP's second asset in Hawaii. The joint venture plans to implement extensive common area capital improvements through their 'Big Changes for the Big Island' campaign. Kings' Shops features retailers like Tiffany & Co., Tommy Bahama, and restaurants including Roy's Waikoloa Bar & Grill. PRCP's management has already attracted new retailers such as Travis Matthews, Lululemon, and Kahala, and plans to continue this leasing momentum into 2025.

Starwood Property Trust (NYSE: STWD) has announced the date for its third quarter 2024 earnings release and conference call. The company will release its financial results on Wednesday, November 6, 2024 before the opening of trading on the New York Stock Exchange. A conference call will be held on the same day at 10:00 a.m. Eastern Time.

The conference call will be available via webcast in the Investor Relations section of the company's website. Participants can also join the telephone conference call by dialing 1-877-407-9039 (domestic) or 1-201-689-8470 (international). A replay of the call will be available for 90 days on the company's website and through a playback service until November 20, 2024.

The full text of the earnings release will be available on the company's website on November 6, 2024. For those without internet access, the release can be obtained by mail or fax upon request.

Field & Stream Lodge Co., a new hospitality platform backed by Starwood Capital Group and AJ Capital Partners, announces its first location in Bozeman, MT. The lodge, inspired by the 153-year-old Field & Stream brand, combines traditional hunting and fishing lodge aesthetics with modern amenities. Opening in Winter 2025, it's located near downtown Bozeman and Yellowstone National Park, offering easy access to outdoor activities.

The 179-room property features various accommodations, from King Suites to Bunk Rooms, designed to feel like traditional lodges. Amenities include The Great Room, a supply shop, gym, outdoor hot tub, indoor pool, meeting spaces, and a 29,000-square-foot courtyard. Field & Stream Lodge Co. plans to expand to other outdoor destinations, aiming to inspire more people to explore nature while providing affordable, modern lodging.

Starwood Property Trust (NYSE: STWD) has announced the pricing of a $400 million private offering of 6.000% unsecured senior notes due 2030. The notes priced at 100.0% of the principal amount, with settlement expected on October 10, 2024. The company plans to use the net proceeds to finance or refinance eligible green and/or social projects. Pending full allocation, funds will be used for general corporate purposes, including repayment of outstanding indebtedness under repurchase facilities.

The notes were offered only to qualified institutional buyers and non-U.S. persons outside the United States. They will not initially be registered under the Securities Act or state securities laws. Starwood Property Trust, an affiliate of Starwood Capital Group, is a leading diversified finance company focusing on real estate and infrastructure sectors. As of June 30, 2024, it has deployed over $98 billion of capital since inception and manages a $26 billion portfolio across debt and equity investments.