Starwood Property Trust Inc (Maryland)
starwoodpropertytrust.comWhat Do They Do?
Originates and manages commercial and residential property loans and other real estate debt investments for property owners and developers.
10-K for FY2025, filed Feb 25, 2026
How Do They Make Money?
Borrowers pay interest on loans over their contractual terms, tenants pay rent under property leases, and the company earns servicing fees while handling loan workouts. It also earns from selling conduit loans and securities.
10-K for FY2025, filed Feb 25, 2026Interest income on performing loans and financial instruments is accrued based on the outstanding principal amount and contractual terms of…View ↗
Rental IncomeView ↗
We typically seek to be the special servicer on CMBS transactions in which we invest. When we are appointed to serve in this capacity, we…View ↗
Real estate commercial and residential lending (the “Commercial and Residential Lending Segment”)—engages primarily in originating…View ↗
Upon the sale of loans or securities which are not accounted for pursuant to the fair value option, the excess (or deficiency) of net…View ↗
-
10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by reportable segment ↗
$1.8B
-
10-K for FY2025, filed Feb 25, 2026
$1.8B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Commercial and Residential Lending Segment
Recurring
10-K for FY2025, filed Feb 25, 2026 |
73%
FY2022: 80%
|
Commercial and Residential Lending Segment, FY2025
$1.3B Sources
|
Recurring |
|
Infrastructure Lending Segment
Recurring
10-K for FY2025, filed Feb 25, 2026 |
15%
FY2022: 11%
|
Infrastructure Lending Segment, FY2025
$276.8M Sources
|
Recurring |
|
Property Segment
Recurring
|
7.4%
FY2022: 6.3%
|
Property Segment, FY2025
$137M Sources
|
Recurring |
|
Investing and Servicing Segment
|
13%
FY2022: 14%
|
Investing and Servicing Segment, FY2025
$244.3M Sources
|
Who Are Their Customers?
Commercial property owners and developers obtain mortgage and mezzanine financing; residential borrowers take first-mortgage loans. Tenants lease the company’s commercial properties.
10-K for FY2025, filed Feb 25, 2026
Do Revenues Turn Into Profits?
Yes. It kept 22 cents of every revenue dollar as net income in FY2025 and turned 5 cents into free cash flow.
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
Growing. Revenue grew 58% in 4 years, from $1.2B in FY2021 to $1.8B in FY2025, about 12% a year.
Broader net-lease holdings
The latest report describes retail, industrial and service properties held under net leases alongside the earlier report’s description of multifamily and net-leased commercial properties.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 25, 2026Real estate commercial and residential lending (the “Commercial and Residential Lending Segment”)—engages primarily in originating…View ↗
On July 23, 2025, we acquired Fundamental Income Properties, LLC (“Fundamental”), which was completed by way of merger, for approximately…View ↗
Loading...
