STARWOOD PROPERTY TRUST INC

For the period ended Dec 31, 2024. Filed Feb 27, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 27, 2025

STWD$11.89-1.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Consolidated Balance Sheets as of December 31, 202 and

Consolidated Balance Sheets

(Amounts in thousands, except share data)

	As of December 31,
	2024	2023
Assets:
Cash and cash equivalents	$377,831	$194,660
Restricted cash	176,164	117,312
Loans held-for-investment, net of credit loss allowances of $448,295 and $309,039	15,437,013	17,574,249
Loans held-for-sale, at fair value	2,516,008	2,645,637
Investment securities, net of credit loss allowances of $24,463 and $13,143 ($126,297 and $129,308 held at fair value)	533,258	735,562
Properties, net	1,373,678	1,046,384
Properties held-for-sale	—	290,937
Investments of consolidated affordable housing fund, at fair value	2,073,533	2,012,833
Investments in unconsolidated entities	99,370	90,376
Goodwill	259,846	259,846
Intangible assets ($22,390 and $19,384 held at fair value)	60,704	64,967
Derivative assets	175,520	63,437
Accrued interest receivable	167,767	200,867
Other assets	368,229	420,773
Variable interest entity (“VIE”) assets, at fair value	38,937,576	43,786,356
Total Assets	$62,556,497	$69,504,196
Liabilities and Equity
Liabilities:
Accounts payable, accrued expenses and other liabilities	$434,584	$293,442
Related-party payable	38,958	44,816
Dividends payable	163,383	152,888
Derivative liabilities	94,890	102,467
Secured financing agreements, net	11,151,557	13,867,996
Collateralized loan obligations and single asset securitization, net	3,196,426	3,491,292
Unsecured senior notes, net	2,994,682	2,158,888
Debt related to properties held-for-sale	—	193,691
VIE liabilities, at fair value	37,288,545	42,175,734
Total Liabilities	55,363,025	62,481,214
Commitments and contingencies (Note 23)
Temporary Equity: Redeemable non-controlling interests	426,695	414,348
Permanent Equity:
Starwood Property Trust, Inc. Stockholders’ Equity:
Preferred stock, $0.01 per share, 100,000,000 shares authorized, no shares issued and outstanding	—	—
Common stock, $0.01 per share, 500,000,000 shares authorized, 344,858,379 issued and 337,409,688 outstanding as of December 31, 2024 and 320,814,765 issued and 313,366,074 outstanding as of December 31, 2023	3,449	3,208
Additional paid-in capital	6,322,763	5,864,670
Treasury stock (7,448,691 shares)	(138,022)	(138,022)
Retained earnings	235,323	505,881
Accumulated other comprehensive income	13,594	15,352
Total Starwood Property Trust, Inc. Stockholders’ Equity	6,437,107	6,251,089
Non-controlling interests in consolidated subsidiaries	329,670	357,545
Total Permanent Equity	6,766,777	6,608,634
Total Liabilities and Equity	$62,556,497	$69,504,196

Note: In addition to the VIE assets and liabilities which are separately presented, our consolidated balance sheets as of December 31, 2024 and 2023 include assets of $4.1 billion and $4.3 billion, respectively, and liabilities of $3.2 billion and $3.5 billion, respectively, related to consolidated collateralized loan obligations (“CLOs”) and a single asset securitization (“SASB”), which are considered to be VIEs. The CLOs’ and SASB’s assets can only be used to settle obligations of the CLOs and SASB, and the CLOs’ and SASB’s liabilities do not have recourse to Starwood Property Trust, Inc. Refer to Note 16 for additional discussion of VIEs.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.