Subsequent Events	9 Months Ended
Sep. 30, 2013
Subsequent Events
Subsequent Events	25. Subsequent Events Our significant events subsequent to September 30, 2013 were as follows: Spin-off of Single Family Residential (“SFR”) Segment On October 31, 2013, our Board of Directors unanimously approved a spin-off of the SFR segment to our stockholders. The newly-formed real estate investment trust, to be called Starwood Waypoint Residential Trust, will apply to list on the New York Stock Exchange and trade under the ticker symbol “SWAY.” Upon completion of the spin-off, SWAY will be one of the largest publicly traded investors, owners and operators of U.S. single-family rental homes and non-performing residential mortgage loans (“NPLs”) in the United States. As part of the spin-off, the Company expects to contribute $100 million in cash to the anticipated unlevered balance sheet of SWAY to fund its growth and operations. In addition, at the time of the spin-off, SWAY also expects to have a fully committed financing line of credit with initial available borrowing capacity in excess of $400 million. Together, the available cash and credit facility will provide SWAY with significant financial capacity to support its growth and operating plans. Starwood Property Trust’s stockholders of record at the close of business on January 24, 2014, subject to the completion of the merger of Waypoint with SWAY Management, will receive one common share of SWAY for every five shares of Starwood Property Trust common stock. Notice of the spin-off has been given to holders of Starwood Property Trust’s convertible senior notes. Starwood Property Trust expects that the spin-off will be treated for tax purposes as a distribution equal to the value of the distributed SWAY shares. The transaction is expected to close during the first quarter of 2014. Investment Lending Activity Loans originated within the Real Estate Investment Lending segment subsequent to September 30, 2013 included the following: · Co-origination, with Starwood European Real Estate Finance, of a £288 million first mortgage loan collateralized by the Heron Tower in London. In conjunction with the loan closing, we obtained a LIBOR-based £210 million collateralized term financing facility, and retained a £60 million junior investment. · Origination of a $106.0 million mezzanine loan secured by the Hyatt Regency in New Orleans. Approximately $84.0 million was funded at close. · Origination of an $86.0 million first mortgage secured by 432 multifamily units and 23 ground floor retails units in San Francisco, CA. · As of September 30, 2013, we owned a $217.6 million participation in a mezzanine loan that was secured by indirect equity interests in subsidiaries that own substantially all of the assets of a worldwide operator of hotels, resorts, and timeshare properties. In October 2013, the loan was repaid resulting in net proceeds to us of $63.6 million, after the repayment of a $140.2 million financing facility secured by this investment. · Origination of a $250.0 million preferred equity investment on a 41 property portfolio of single tenant office and industrial buildings comprised of approximately 9.1 million square feet located across the United States.

25. Subsequent Events

Our significant events subsequent to September 30, 2013 were as follows:

Spin-off of Single Family Residential (“SFR”) Segment

On October 31, 2013, our Board of Directors unanimously approved a spin-off of the SFR segment to our stockholders. The newly-formed real estate investment trust, to be called Starwood Waypoint Residential Trust, will apply to list on the New York Stock Exchange and trade under the ticker symbol “SWAY.” Upon completion of the spin-off, SWAY will be one of the largest publicly traded investors, owners and operators of U.S. single-family rental homes and non-performing residential mortgage loans (“NPLs”) in the United States.

As part of the spin-off, the Company expects to contribute $100 million in cash to the anticipated unlevered balance sheet of SWAY to fund its growth and operations. In addition, at the time of the spin-off, SWAY also expects to have a fully committed financing line of credit with initial available borrowing capacity in excess of $400 million. Together, the available cash and credit facility will provide SWAY with significant financial capacity to support its growth and operating plans.

Starwood Property Trust’s stockholders of record at the close of business on January 24, 2014, subject to the completion of the merger of Waypoint with SWAY Management, will receive one common share of SWAY for every five shares of Starwood Property Trust common stock. Notice of the spin-off has been given to holders of Starwood Property Trust’s convertible senior notes. Starwood Property Trust expects that the spin-off will be treated for tax purposes as a distribution equal to the value of the distributed SWAY shares. The transaction is expected to close during the first quarter of 2014.

Investment Lending Activity

Loans originated within the Real Estate Investment Lending segment subsequent to September 30, 2013 included the following:

· Co-origination, with Starwood European Real Estate Finance, of a £288 million first mortgage loan collateralized by the Heron Tower in London. In conjunction with the loan closing, we obtained a LIBOR-based £210 million collateralized term financing facility, and retained a £60 million junior investment.

· Origination of a $106.0 million mezzanine loan secured by the Hyatt Regency in New Orleans. Approximately $84.0 million was funded at close.

· Origination of an $86.0 million first mortgage secured by 432 multifamily units and 23 ground floor retails units in San Francisco, CA.

· As of September 30, 2013, we owned a $217.6 million participation in a mezzanine loan that was secured by indirect equity interests in subsidiaries that own substantially all of the assets of a worldwide operator of hotels, resorts, and timeshare properties. In October 2013, the loan was repaid resulting in net proceeds to us of $63.6 million, after the repayment of a $140.2 million financing facility secured by this investment.

· Origination of a $250.0 million preferred equity investment on a 41 property portfolio of single tenant office and industrial buildings comprised of approximately 9.1 million square feet located across the United States.