Acquisitions (Tables) - Woodstar Portfolio, Ireland Portfolio and REIS Portfolio

3 Months Ended

Mar. 31, 2016

Summary of assets acquired and liabilities assumed

The following table summarizes the identified assets acquired and liabilities assumed at the respective acquisition dates (amounts in thousands):


	2016				2015
	Woodstar		REO		Woodstar		REO		Ireland
Assets acquired:	Portfolio		Portfolio		Portfolio		Portfolio		Portfolio
Cash and cash equivalents	$	6,254	$	—	$	—	$	—	$	—
Restricted cash		—		—		—		—		10,829
Properties		198,693		20,707		339,040		128,218		445,369
Intangible assets		6,837		5,558		11,337		19,381		59,529
Other assets		15,595		103		652		4,973		2,508
Total assets acquired		227,379		26,368		351,029		152,572		518,235
Liabilities assumed:
Accounts payable, accrued expenses and other liabilities		18,070		1,715		18,030		6,998		17,552
Secured financing agreements		129,416		—		8,982		—		283,010
Total liabilities assumed		147,486		1,715		27,012		6,998		300,562
Non-controlling interests		—		3,084		—		6,904		—
Net assets acquired	$	79,893	$	21,569	$	324,017	$	138,670	$	217,673

Schedule of unaudited pro forma revenue and net income

The pro-forma revenues and net income attributable to the Company for the three months ended March 31, 2016 and 2015, assuming the 30 properties acquired within the Woodstar Portfolio and all the properties within the REO Portfolio and the Ireland Portfolio were acquired on January 1, 2014 for the 2015 acquisitions and January 1, 2015 for the 2016 acquisitions, are as follows (amounts in thousands, except per share amounts):


	For the Three Months Ended
	March 31,
	2016		2015
Revenues	$	198,616	$	211,448
Net income attributable to STWD		29,153		115,025
Net income per share - Basic		0.12		0.51
Net income per share - Diluted		0.12		0.50

Schedule of adjustments related to pro forma revenue and net income

Pro-forma net income was adjusted to include the following estimated incremental management fees the combined entity would have incurred (amounts in thousands):

For the Three Months Ended

Management fee expense addition