8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 26, 2010

Starwood Property Trust, Inc.
(Exact name of registrant as specified in its charter)

Maryland	001-34436	27-0247747
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

591 West Putnam Avenue Greenwich, CT	06830
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (203) 422-7700

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.01 Completion of Acquisition or Disposition of Assets.

On February 26, 2010, pursuant to the Loan Purchase and Sale Agreement (the “Purchase Agreement”) with Teachers Insurance and Annuity Association of America, as Seller (the “Seller”), and Chicago Title Insurance Company, as escrow agent, dated as of February 16, 2010 (the “Purchase Agreement”) Starwood Property Mortgage Sub-1, L.L.C. (“Mortgage Sub”), an indirect wholly-owned subsidiary of Starwood Property Trust, Inc. (the “Company”), completed the purchase of a portfolio of 20 performing commercial mortgage loans and B notes (collectively, the “Loans”) for approximately $512 million, which included $2.5 million of accrued interest. The purchase of Loans was funded by cash on hand.

Item 9.01 Financial Statements and Exhibits.

(b)	Pro Forma Financial Information
	Starwood Property Trust, Inc. will provide pro forma information, to the extent such information is required by paragraph (b) of Item 9.01 of Form 8-K, on a Form 8-K/A within 71 days of the date that this initial report on Form 8-K is required to be filed with the Securities and Exchange Commission.
(d)	Exhibits

Exhibit
Number	Description
99.1	Press Release, dated March 4, 2010

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: March 4, 2010	STARWOOD PROPERTY TRUST, INC.
	By:	/s/ ANDREW J. SOSSEN
		Name: Andrew J. Sossen Title: Authorized Signatory

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EXHIBIT INDEX
 

Exhibit
Number	Description
99.1	Press Release, dated March 4, 2010

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EX-99.1

Exhibit 99.1

For Immediate Release Contact: Barbara Anderson
Phone: 203-422-8100
Email: investorrelations@stwdreit.com

Starwood Property Trust Closes on $503M Diversified Loan Portfolio

Greenwich, CT (March 4, 2010) Starwood Property Trust (NYSE: STWD), a real estate investment trust focused primarily on originating, investing in, and financing commercial mortgage loans and other commercial real estate-related debt investments, today announced that on February 26, 2010 it completed the purchase of a portfolio of 20 performing commercial mortgage loans and B notes from Teachers Insurance and Annuity Association of America. The loans were acquired for approximately $512 million, including $2.5 million of accrued interest, and was funded by cash on hand.

The loans are secured by retail and office assets totaling 4.5 million square feet across 10 states which are approximately 96% occupied. The portfolio has a weighted average debt yield of 17.7% and a weighted average coupon of 7.75%. The debt service coverage ratio on the portfolio is approximately 1.8x.

The portfolio, excluding the $112 million of loans that have a maturity within the next 12 months, has a weighted average remaining term of 2 years. The loans that mature within the next 12 months are a near cash equivalent with an attractive yield and provide the Company with a near term option to originate new loans.

About Starwood Property Trust, Inc.

Starwood Property Trust, Inc. (NYSE: STWD) is a newly formed company that is focused primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial real estate-related debt investments. Starwood Property Trust, Inc. is externally managed and advised by SPT Management, LLC, an affiliate of Starwood Capital Group, and intends to elect to be taxed as a real estate investment trust for U.S. federal income tax purposes.

Forward Looking Statements

Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although Starwood Property Trust, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company’s expectations include completion of pending investments, continued ability to acquire additional investments, competition within the finance and real estate industries, economic conditions, and other risks detailed from time to time in the Company’s reports filed with the SEC.