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Segment Data (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Results of Operations by Business Segment
The table below presents our results of operations for the three months ended March 31, 2025 by business segment (amounts in thousands):
Commercial and
Residential
Lending
Segment		Infrastructure
Lending
Segment		Property
Segment		Investing
and Servicing
Segment		CorporateSubtotalSecuritization
VIEs		Total
Revenues:
Interest income from loans$290,299 $60,456 $— $3,168 $— $353,923 $— $353,923 
Interest income from investment securities23,889 154 — 28,174 — 52,217 (39,996)12,221 
Servicing fees65 — — 21,829 — 21,894 (4,434)17,460 
Rental income8,203 — 16,315 4,665 — 29,183 — 29,183 
Other revenues3,010 1,015 234 1,039 95 5,393 — 5,393 
Total revenues325,466 61,625 16,549 58,875 95 462,610 (44,430)418,180 
Costs and expenses:
Management fees180 — — — 40,583 40,763 — 40,763 
Interest expense165,551 35,154 8,977 8,133 74,538 292,353 (195)292,158 
General and administrative14,606 5,018 1,414 22,501 4,608 48,147 — 48,147 
Costs of rental operations5,518 — 6,018 3,284 — 14,820 — 14,820 
Depreciation and amortization3,607 10 5,865 1,751 251 11,484 — 11,484 
Credit loss (reversal) provision, net
(25,759)760 — — — (24,999)— (24,999)
Other expense(25)1,923 (82)35 — 1,851 — 1,851 
Total costs and expenses163,678 42,865 22,192 35,704 119,980 384,419 (195)384,224 
Other income (loss):
Change in net assets related to consolidated VIEs— — — — — — 28,691 28,691 
Change in fair value of servicing rights— — — (114)— (114)867 753 
Change in fair value of investment securities, net7,397 — — (22,629)— (15,232)15,059 (173)
Change in fair value of mortgage loans, net42,574 — — 15,830 — 58,404 — 58,404 
Income from affordable housing fund investments
— — 3,910 — — 3,910 — 3,910 
Earnings (loss) from unconsolidated entities
1,296 (622)— 245 — 919 (382)537 
(Loss) gain on derivative financial instruments, net
(65,838)(19)(98)(1,073)27,339 (39,689)— (39,689)
Foreign currency gain (loss), net
34,616 236 (61)— — 34,791 — 34,791 
Other (loss) income, net
(489)— (828)4 — (1,313)— (1,313)
Total other income (loss)19,556 (405)2,923 (7,737)27,339 41,676 44,235 85,911 
Income (loss) before income taxes181,344 18,355 (2,720)15,434 (92,546)119,867 — 119,867 
Income tax provision
(294)(133)— (3,339)— (3,766)— (3,766)
Net income (loss)181,050 18,222 (2,720)12,095 (92,546)116,101 — 116,101 
Net (income) loss attributable to non-controlling interests
(3)— (5,084)1,241 — (3,846)— (3,846)
Net income (loss) attributable to Starwood Property Trust, Inc.
$181,047 $18,222 $(7,804)$13,336 $(92,546)$112,255 $— $112,255 
The table below presents our results of operations for the three months ended March 31, 2024 by business segment (amounts in thousands):
Commercial and
Residential
Lending
Segment		Infrastructure
Lending
Segment		Property
Segment		Investing
and Servicing
Segment		CorporateSubtotalSecuritization
VIEs		Total
Revenues:
Interest income from loans$394,472 $66,398 $— $2,622 $— $463,492 $— $463,492 
Interest income from investment securities31,405 138 — 21,144 — 52,687 (34,481)18,206 
Servicing fees128 — — 13,039 — 13,167 (3,478)9,689 
Rental income3,565 — 20,775 4,507 — 28,847 — 28,847 
Other revenues983 392 127 748 604 2,854 — 2,854 
Total revenues430,553 66,928 20,902 42,060 604 561,047 (37,959)523,088 
Costs and expenses:
Management fees192 — — — 45,822 46,014 — 46,014 
Interest expense236,149 38,973 13,298 8,317 59,429 356,166 (210)355,956 
General and administrative16,828 5,955 1,263 23,467 3,150 50,663 — 50,663 
Costs of rental operations2,025 — 5,707 2,612 — 10,344 — 10,344 
Depreciation and amortization1,949 14 5,855 1,749 251 9,818 — 9,818 
Credit loss provision, net34,977 862 — — — 35,839 — 35,839 
Other expense730 — — (56)— 674 — 674 
Total costs and expenses292,850 45,804 26,123 36,089 108,652 509,518 (210)509,308 
Other income (loss):
Change in net assets related to consolidated VIEs— — — — — — 10,086 10,086 
Change in fair value of servicing rights— — — (3,381)— (3,381)3,609 228 
Change in fair value of investment securities, net(6,991)— — (16,458)— (23,449)24,364 915 
Change in fair value of mortgage loans, net(40,677)— — 11,664 — (29,013)— (29,013)
Income from affordable housing fund investments— — 9,448 — — 9,448 — 9,448 
Earnings from unconsolidated entities
7,345 327 — 313 — 7,985 (310)7,675 
(Loss) gain on sale of investments and other assets, net
(41)— 92,003 — — 91,962 — 91,962 
Gain (loss) on derivative financial instruments, net
110,952 122 1,721 3,012 (13,868)101,939 — 101,939 
Foreign currency (loss) gain, net
(41,818)(84)32 — — (41,870)— (41,870)
Gain (loss) on extinguishment of debt
315 (560)(1,209)— — (1,454)— (1,454)
Other (loss) income, net
(2,676)40 — 6 — (2,630)— (2,630)
Total other income (loss)26,409 (155)101,995 (4,844)(13,868)109,537 37,749 147,286 
Income (loss) before income taxes164,112 20,969 96,774 1,127 (121,916)161,066 — 161,066 
Income tax (provision) benefit
(721)128 — (613)— (1,206)— (1,206)
Net income (loss)163,391 21,097 96,774 514 (121,916)159,860 — 159,860 
Net (income) loss attributable to non-controlling interests
(3)— (6,225)700 — (5,528)— (5,528)
Net income (loss) attributable to Starwood Property Trust, Inc.
$163,388 $21,097 $90,549 $1,214 $(121,916)$154,332 $— $154,332 
Schedule of Consolidated Balance Sheet by Business Segment
The table below presents our consolidated balance sheet as of March 31, 2025 by business segment (amounts in thousands):
Commercial and
Residential
Lending
Segment		Infrastructure
Lending
Segment		Property
Segment		Investing
and Servicing
Segment		CorporateSubtotalSecuritization
VIEs		Total
Assets:
Cash and cash equivalents$19,249 $161,387 $32,113 $22,109 $205,722 $440,580 $— $440,580 
Restricted cash96,106 19,306 1,158 349 134,852 251,771 — 251,771 
Loans held-for-investment, net13,813,048 2,708,931 — — — 16,521,979 — 16,521,979 
Loans held-for-sale2,375,642 — — 70,994 — 2,446,636 — 2,446,636 
Investment securities871,299 17,158 — 1,148,978 — 2,037,435 (1,539,976)497,459 
Properties, net695,579 — 652,965 64,690 — 1,413,234 — 1,413,234 
Investments of consolidated affordable housing fund— — 2,065,498 — — 2,065,498 — 2,065,498 
Investments in unconsolidated entities26,612 53,483 — 33,265 — 113,360 (14,898)98,462 
Goodwill— 119,409 — 140,437 — 259,846 — 259,846 
Intangible assets9,914 — 21,438 63,323 — 94,675 (34,878)59,797 
Derivative assets82,602 — 17 4 2,349 84,972 — 84,972 
Accrued interest receivable128,296 14,029 — 338 28 142,691 — 142,691 
Other assets213,713 3,478 54,472 9,033 129,108 409,804 — 409,804 
VIE assets, at fair value— — — — — — 37,470,618 37,470,618 
Total Assets$18,332,060 $3,097,181 $2,827,661 $1,553,520 $472,059 $26,282,481 $35,880,866 $62,163,347 
Liabilities and Equity
Liabilities:
Accounts payable, accrued expenses and other liabilities$297,370 $36,186 $13,966 $29,395 $102,978 $479,895 $— $479,895 
Related-party payable— — — — 36,538 36,538 — 36,538 
Dividends payable— — — — 165,039 165,039 — 165,039 
Derivative liabilities52,248 — — — 20,727 72,975 — 72,975 
Secured financing agreements, net8,942,642 961,524 480,322 527,359 1,546,810 12,458,657 (20,219)12,438,438 
Collateralized loan obligations and single asset securitization, net1,935,109 1,230,187 — — — 3,165,296 — 3,165,296 
Unsecured senior notes, net— — — — 2,747,330 2,747,330 — 2,747,330 
VIE liabilities, at fair value— — — — — — 35,901,085 35,901,085 
Total Liabilities11,227,369 2,227,897 494,288 556,754 4,619,422 19,125,730 35,880,866 55,006,596 
Temporary Equity: Redeemable non-controlling interests
— — 426,835 — — 426,835 — 426,835 
Permanent Equity:
Starwood Property Trust, Inc. Stockholders’ Equity:
Common stock— — — — 3,468 3,468 — 3,468 
Additional paid-in capital834,079 591,500 (395,292)(746,610)6,060,216 6,343,893 — 6,343,893 
Treasury stock— — — — (138,022)(138,022)— (138,022)
Retained earnings (accumulated deficit)6,257,767 277,784 2,094,585 1,626,488 (10,073,025)183,599 — 183,599 
Accumulated other comprehensive income12,727 — — — — 12,727 — 12,727 
Total Starwood Property Trust, Inc. Stockholders’ Equity7,104,573 869,284 1,699,293 879,878 (4,147,363)6,405,665 — 6,405,665 
Non-controlling interests in consolidated subsidiaries118 — 207,245 116,888 — 324,251 — 324,251 
Total Permanent Equity7,104,691 869,284 1,906,538 996,766 (4,147,363)6,729,916 — 6,729,916 
Total Liabilities and Equity$18,332,060 $3,097,181 $2,827,661 $1,553,520 $472,059 $26,282,481 $35,880,866 $62,163,347 
The table below presents our consolidated balance sheet as of December 31, 2024 by business segment (amounts in thousands):
Commercial and
Residential
Lending
Segment		Infrastructure
Lending
Segment		Property
Segment		Investing
and Servicing
Segment		CorporateSubtotalSecuritization
VIEs		Total
Assets:
Cash and cash equivalents$19,743 $122,134 $24,717 $11,946 $199,291 $377,831 $— $377,831 
Restricted cash147,502 21,986 1,133 5,543 — 176,164 — 176,164 
Loans held-for-investment, net12,895,064 2,541,949 — — — 15,437,013 — 15,437,013 
Loans held-for-sale2,394,624 — — 121,384 — 2,516,008 — 2,516,008 
Investment securities909,762 17,273 — 1,225,024 — 2,152,059 (1,618,801)533,258 
Properties, net650,966 — 657,246 65,466 — 1,373,678 — 1,373,678 
Investments of consolidated affordable housing fund— — 2,073,533 — — 2,073,533 — 2,073,533 
Investments in unconsolidated entities26,441 54,105 — 33,640 — 114,186 (14,816)99,370 
Goodwill— 119,409 — 140,437 — 259,846 — 259,846 
Intangible assets10,637 — 22,101 63,711 — 96,449 (35,745)60,704 
Derivative assets174,507 — 115 898 — 175,520 — 175,520 
Accrued interest receivable150,474 13,961 — 684 2,648 167,767 — 167,767 
Other assets206,103 8,190 52,243 8,700 92,993 368,229 — 368,229 
VIE assets, at fair value— — — — — — 38,937,576 38,937,576 
Total Assets$17,585,823 $2,899,007 $2,831,088 $1,677,433 $294,932 $25,288,283 $37,268,214 $62,556,497 
Liabilities and Equity
Liabilities:
Accounts payable, accrued expenses and other liabilities$185,303 $30,157 $13,232 $57,624 $148,268 $434,584 $— $434,584 
Related-party payable— — — — 38,958 38,958 — 38,958 
Dividends payable— — — — 163,383 163,383 — 163,383 
Derivative liabilities67,452 — — — 27,438 94,890 — 94,890 
Secured financing agreements, net7,912,536 760,299 479,732 591,094 1,428,227 11,171,888 (20,331)11,151,557 
Collateralized loan obligations and single asset securitization, net1,966,865 1,229,561 — — — 3,196,426 — 3,196,426 
Unsecured senior notes, net— — — — 2,994,682 2,994,682 — 2,994,682 
VIE liabilities, at fair value— — — — — — 37,288,545 37,288,545 
Total Liabilities10,132,156 2,020,017 492,964 648,718 4,800,956 18,094,811 37,268,214 55,363,025 
Temporary Equity: Redeemable non-controlling interests
— — 426,695 — — 426,695 — 426,695 
Permanent Equity:
Starwood Property Trust, Inc. Stockholders’ Equity:
Common stock— — — — 3,449 3,449 — 3,449 
Additional paid-in capital1,363,238 619,428 (398,205)(706,746)5,445,048 6,322,763 — 6,322,763 
Treasury stock— — — — (138,022)(138,022)— (138,022)
Retained earnings (accumulated deficit)6,076,720 259,562 2,102,389 1,613,151 (9,816,499)235,323 — 235,323 
Accumulated other comprehensive income13,594 — — — — 13,594 — 13,594 
Total Starwood Property Trust, Inc. Stockholders’ Equity7,453,552 878,990 1,704,184 906,405 (4,506,024)6,437,107 — 6,437,107 
Non-controlling interests in consolidated subsidiaries115 — 207,245 122,310 — 329,670 — 329,670 
Total Permanent Equity7,453,667 878,990 1,911,429 1,028,715 (4,506,024)6,766,777 — 6,766,777 
Total Liabilities and Equity$17,585,823 $2,899,007 $2,831,088 $1,677,433 $294,932 $25,288,283 $37,268,214 $62,556,497