STARWOOD CAPITAL GROUP FORMS PUBLIC REIT

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GREENWICH, CONN. — Greenwich-based Starwood Capital Group has filed plans to create Starwood Property Trust, a Maryland-based real estate investment trust that will focus on commercial real estate investments. The new corporation primarily will originate, finance, manage and invest in commercial mortgage-backed securities, with the potential to invest in residential mortgage loans and residential mortgage-backed securities in the future. The REIT plans to finance its investments initially through the U.S. government’s Public-Private Investment Program (PPIP) and the Term Asset-Backed Securities Loan Facility (TALF) programs. The REIT plans to make an initial public offering in the near future, but the price of the stock has not been set.

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