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Starwood Property Trust Announces Pricing of Common Stock Offering

GREENWICH, Conn., April 8, 2014 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the pricing of an underwritten public offering of 22,000,000 shares of its common stock for total estimated gross proceeds of approximately $496.1 million (or approximately $570.5 million if the option to purchase additional shares is exercised in full).  The underwriters have a 30-day option to purchase up to an additional 3,300,000 shares from the Company.  Settlement of the offering is subject to customary closing conditions and is expected to occur on April 11, 2014.  All of the shares will be issued under the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission.

The Company intends to use the net proceeds received from the offering to originate and purchase additional commercial mortgage loans and other target assets and investments.  The Company may also use a portion of the net proceeds for other general corporate purposes, including, but not limited to, the payment of liabilities and other working capital needs.

Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.

The offering of these securities may be made only by means of a prospectus and a related prospectus supplement, a copy of which may be obtained by contacting: Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, New York 10010, Attention: Prospectus Department, Telephone: (800) 221-1037, Email: [email protected]; BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attention: Prospectus Department, Email: [email protected]; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: (888) 603-5847, Email: [email protected]; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: (800) 831-9146, Email: [email protected]; or Wells Fargo Securities, LLC, 375 Park Avenue, New York, New York 10152, Attention: Equity Syndicate Dept., Telephone: (800) 326-5897, Email: [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.

About Starwood Property Trust, Inc.

Starwood Property Trust, Inc. is focused on originating, acquiring, financing and managing commercial mortgage loans and other commercial real estate debt investments, commercial mortgage-backed securities, and other commercial real estate-related debt investments. The Company through its 2013 acquisition of LNR Property, LLC now also operates as a special servicer in the United States and as a primary and special servicer in Europe and has expanded its product offering to include fixed rate conduit loans. Starwood Property Trust, Inc. may also invest in residential mortgage-backed securities, residential mortgage loans, distressed or non-performing commercial loans, commercial properties subject to net leases and commercial real estate owned. The Company is externally managed and advised by SPT Management, LLC, an affiliate of Starwood Capital Group, and has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes. 

Forward-Looking Statements

Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained.  Factors that could cause actual results to differ materially from the Company's expectations include (i) factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2013, including those set forth under the captions "Risk Factors" and "Business"; (ii) defaults by borrowers in paying debt service on outstanding indebtedness; (iii) impairment in the value of real estate property securing the Company's loans; (iv) availability of mortgage origination and acquisition opportunities acceptable to the Company; (v) the Company's ability to fully integrate LNR Property, LLC, a Delaware limited liability company, which was acquired on April 19, 2013, into its business and achieve the benefits that the Company anticipates from this acquisition; (vi) potential mismatches in the timing of asset repayments and the maturity of the associated financing agreements; (vii) national and local economic and business conditions; (viii) general and local commercial and residential real estate property conditions; (ix) changes in federal government policies; (x) changes in federal, state and local governmental laws and regulations; (xi) increased competition from entities engaged in mortgage lending; (xii) changes in interest rates; and (xiii) the availability of and costs associated with sources of liquidity.

Contact: Investor Relations
Phone:    203-422-7788
Email:     [email protected]

SOURCE Starwood Property Trust, Inc.

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