Exhibit 99.1

For Immediate Release

Starwood Property Trust Reports Results for

Quarter Ended June 30, 2025

– Quarterly GAAP Earnings of $0.38 and Distributable Earnings (DE) of $0.43 per Diluted Share –

– Invested $3.2 Billion in the Quarter and $5.5 Billion in the 6 Months, Surpassing 2024 Capital Deployment –

– LNR’s Commercial Special Servicer Ratings of CSS1 and CS1 (Highest Ratings Possible) Reaffirmed by Fitch and Morningstar DBRS –

– Awarded Nareit Gold Investor CARE Award for 9th Time in 11 Years –

– Paid Dividend of $0.48 per Share for Q2 and Declared $0.48 Dividend for Q3 –

– Acquired Fundamental Income Properties, a $2.2 Billion Fully Integrated Net Lease Real Estate Operating Platform and Owned Portfolio –

MIAMI BEACH, FL, August 7, 2025 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter ended June 30, 2025. The Company’s second quarter 2025 GAAP net income was $129.8 million, and Distributable Earnings (a non-GAAP financial measure) was $151.1 million.

“We have continued to demonstrate the strength and flexibility of our multi-cylinder platform,” said Barry Sternlicht, Chairman and CEO of Starwood Property Trust. “While commercial real estate lending remains a foundational part of our business, it now represents about half of our asset base—a reflection of how far we’ve diversified and evolved. Our capital deployment has already surpassed full-year 2024 levels, and we’re seeing robust investment opportunities across sectors. We are exceptionally well-positioned to capitalize on today’s environment.”

“As the property markets recover, led by much lower future supply and the imminent projection of lower interest rates, the integration of Fundamental Income marks a significant step in our ongoing evolution and diversification,” Sternlicht continued. “Their scalable business, disciplined credit focus, and structuring expertise are highly aligned with our platform. This acquisition adds a powerful new important vertical where we hope to deploy significant capital and grow our earnings going forward with stable recurring cash flows.”

“Since our IPO, we’ve raised over $20 billion in capital, proving our ability to access liquidity through all market conditions,” added Jeffrey DiModica, President of Starwood Property Trust. “The recent repricing of our term loans to best-in-class levels reflects the market’s confidence in our strategy and credit profile. With $5.0 billion in unencumbered assets, over $1.4 billion in unrealized property gains, no near-term debt maturities, and a diversified business model, we have the tools and financial strength to drive disciplined growth and capture the compelling opportunities ahead.”

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Supplemental Schedules

The Company has published supplemental earnings schedules on its website in order to provide additional disclosure and financial information for the benefit of the Company’s stakeholders. Specifically, these materials can be found on the Company’s website in the Investor Relations section under “Quarterly Results” at www.starwoodpropertytrust.com.

Webcast and Conference Call Information

The Company will host a live webcast and conference call on Thursday, August 7, 2025, at 10:00 a.m. Eastern Time. To listen to a live broadcast, access the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. The webcast is available at www.starwoodpropertytrust.com in the Investor Relations section of the website. The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in. 

To Participate via Telephone Conference Call:

Dial in at least 15 minutes prior to start time.

Domestic: 1-877-407-9039

International: 1-201-689-8470

Conference Call Playback:

Domestic: 1-844-512-2921

International: 1-412-317-6671

Passcode: 13754310

The playback can be accessed through August 21, 2025.

About Starwood Property Trust, Inc.

Starwood Property Trust (NYSE: STWD), an affiliate of global private investment firm Starwood Capital Group, is a leading diversified finance company with a core focus on the real estate and infrastructure sectors. As of June 30, 2025, the Company has successfully deployed $108 billion of capital since inception and manages a portfolio of over $27 billion across debt and equity investments. Starwood Property Trust’s investment objective is to generate attractive and stable returns for shareholders, primarily through dividends, by leveraging a premiere global organization to identify and execute on the best risk adjusted returning investments across its target assets. Additional information can be found at www.starwoodpropertytrust.com.

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, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Forward-looking statements are developed by combining currently available information with our beliefs and assumptions and are generally identified by the words “believe,” “expect,” “anticipate” and other similar expressions.  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, but are not limited to, completion of pending investments and financings, continued ability to acquire additional investments, competition within the finance and real estate industries, availability of financing, and other risks detailed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as well as other risks and uncertainties set forth from time to time in the Company’s reports filed with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

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In light of these risks and uncertainties, there can be no assurances that the results referred to in the forward-looking statements contained herein will in fact occur. Except to the extent required by applicable law or regulation, we undertake no obligation to, and expressly disclaim any such obligation to, update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, changes to future results over time or otherwise.

Additional information can be found on the Company’s website at www.starwoodpropertytrust.com.

Contact:
Zachary Tanenbaum

Starwood Property Trust

Phone: 203-422-7788

Email: ztanenbaum@starwood.com

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Starwood Property Trust, Inc. and Subsidiaries

Condensed Consolidated Statement of Operations by Segment

For the three months ended June 30, 2025

(Amounts in thousands)

			Commercial and Residential Lending Segment						Infrastructure Lending Segment						Property Segment						Investing and Servicing Segment						Corporate						Subtotal						Securitization VIEs						Total
Revenues:
Interest income from loans			$	313,595					$	65,949					$	—					$	5,675					$	—					$	385,219					$	—					$	385,219
Interest income from investment securities			21,335						148						—						21,778						—						43,261						(32,948)						10,313
Servicing fees			111						—						—						18,627						—						18,738						(4,658)						14,080
Rental income			6,532						—						16,237						5,474						—						28,243						—						28,243
Other revenues			2,334						1,087						240						2,231						536						6,428						—						6,428
Total revenues			343,907						67,184						16,477						53,785						536						481,889						(37,606)						444,283
Costs and expenses:
Management fees			177						—						—						—						30,656						30,833						—						30,833
Interest expense			180,494						39,106						9,067						7,794						79,881						316,342						(210)						316,132
General and administrative			15,535						5,523						1,237						24,361						4,416						51,072						—						51,072
Costs of rental operations			4,950						—						5,930						3,632						—						14,512						—						14,512
Depreciation and amortization			2,491						9						5,875						1,744						252						10,371						—						10,371
Credit loss provision, net			3,663						2,003						—						—						—						5,666						—						5,666
Other expense			—						1,693						6						194						—						1,893						—						1,893
Total costs and expenses			207,310						48,334						22,115						37,725						115,205						430,689						(210)						430,479
Other income (loss):
Change in net assets related to consolidated VIEs			—						—						—						—						—						—						40,280						40,280
Change in fair value of servicing rights			—						—						—						3,568						—						3,568						(1,205)						2,363
Change in fair value of investment securities, net			(2,058)						—						—						3,728						—						1,670						(1,325)						345
Change in fair value of mortgage loans, net			8,425						—						—						21,442						—						29,867						—						29,867
Income from affordable housing fund investments			—						—						5,115						—						—						5,115						—						5,115
Earnings from unconsolidated entities			1,412						1,167						—						5,647						—						8,226						(354)						7,872
Gain on sale of investments and other assets, net			31,662						—						—						—						—						31,662						—						31,662
(Loss) gain on derivative financial instruments, net			(116,140)						—						(13)						(1,304)						16,161						(101,296)						—						(101,296)
Foreign currency gain (loss), net			83,257						630						(126)						—						—						83,761						—						83,761
Gain (loss) on extinguishment of debt			20,773						(783)						—						—						—						19,990						—						19,990
Other (loss) income, net			(737)						—						(636)						2,977						—						1,604						—						1,604
Total other income (loss)			26,594						1,014						4,340						36,058						16,161						84,167						37,396						121,563
Income (loss) before income taxes			163,191						19,864						(1,298)						52,118						(98,508)						135,367						—						135,367
Income tax benefit (provision)			5,495						88						—						(6,254)						—						(671)						—						(671)
Net income (loss)			168,686						19,952						(1,298)						45,864						(98,508)						134,696						—						134,696
Net (income) loss attributable to non-controlling interests			(4)						—						(5,326)						448						—						(4,882)						—						(4,882)
Net income (loss) attributable to Starwood Property Trust, Inc.			$	168,682					$	19,952					$	(6,624)					$	46,312					$	(98,508)					$	129,814					$	—					$	129,814

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Definition of Distributable Earnings

Distributable Earnings, a non-GAAP financial measure, is used to compute the Company’s incentive fees to its external manager and is an appropriate supplemental disclosure for a mortgage REIT. For the Company’s purposes, Distributable Earnings is defined as GAAP net income (loss) excluding non-cash equity compensation expense, the incentive fee due to the Company’s external manager, acquisition costs for successful acquisitions, depreciation and amortization of real estate and associated intangibles, any unrealized gains, losses or other non-cash items recorded in net income (loss) for the period and, to the extent deducted from net income (loss), distributions payable with respect to equity securities of subsidiaries issued in exchange for properties or interests therein. The amount is adjusted to exclude one-time events pursuant to changes in GAAP and certain other non-cash adjustments as determined by the Company’s external manager and approved by a majority of the Company’s independent directors. Refer to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 for additional information regarding Distributable Earnings.

Reconciliation of Net Income to Distributable Earnings

For the three months ended June 30, 2025

(Amounts in thousands except per share data)

			Commercial and Residential Lending Segment						Infrastructure Lending Segment						Property Segment						Investing and Servicing Segment						Corporate						Total
Net income (loss) attributable to Starwood Property Trust, Inc.			$	168,682					$	19,952					$	(6,624)					$	46,312					$	(98,508)					$	129,814
Add / (Deduct):
Non-controlling interests attributable to Woodstar II Class A Units			—						—						4,629						—						—						4,629
Non-controlling interests attributable to unrealized gains/losses			—						—						(3,383)						(2,699)						—						(6,082)
Non-cash equity compensation expense			2,844						723						107						1,367						8,389						13,430
Management incentive fee			—						—						—						—						183						183
Depreciation and amortization			2,528						—						5,987						1,845						—						10,360
Interest income adjustment for loans and securities			5,832						—						—						7,304						—						13,136
Consolidated income tax (benefit) provision associated with fair value adjustments			(5,495)						(88)						—						6,254						—						671
Other non-cash items			5						—						316						(380)						—						(59)
Reversal of GAAP unrealized and realized (gains) / losses on:
Loans			(8,425)						—						—						(21,442)						—						(29,867)
Credit loss provision, net			3,663						2,003						—						—						—						5,666
Securities			2,058						—						—						(3,728)						—						(1,670)
Woodstar Fund investments			—						—						(5,115)						—						—						(5,115)
Derivatives			116,140						—						13						1,304						(16,161)						101,296
Foreign currency			(83,257)						(630)						126						—						—						(83,761)
Earnings from unconsolidated entities			(1,412)						(1,167)						—						(5,647)						—						(8,226)
Sales of properties			(4,128)						—						—						—						—						(4,128)
Recognition of Distributable realized gains / (losses) on:
Loans			(702)						—						—						19,165						—						18,463
Securities			(316)						—						—						(4,223)						—						(4,539)
Woodstar Fund investments			—						—						21,600						—						—						21,600
Derivatives			17,555						50						(99)						347						(6,868)						10,985
Foreign currency			1,671						91						(125)						—						—						1,637
Earnings (loss) from unconsolidated entities			1,412						(109)						—						5,801						—						7,104
Sales of properties			(44,438)						—						—						—						—						(44,438)
Distributable Earnings (Loss)			$	174,217					$	20,825					$	17,432					$	51,580					$	(112,965)					$	151,089
Distributable Earnings (Loss) per Weighted Average Diluted Share			$	0.49					$	0.06					$	0.05					$	0.15					$	(0.32)					$	0.43

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Starwood Property Trust, Inc. and Subsidiaries

Condensed Consolidated Statement of Operations by Segment

For the six months ended June 30, 2025

(Amounts in thousands)

			Commercial and Residential Lending Segment						Infrastructure Lending Segment						Property Segment						Investing and Servicing Segment						Corporate						Subtotal						Securitization VIEs						Total
Revenues:
Interest income from loans			$	603,894					$	126,405					$	—					$	8,843					$	—					$	739,142					$	—					$	739,142
Interest income from investment securities			45,224						302						—						49,952						—						95,478						(72,944)						22,534
Servicing fees			176						—						—						40,456						—						40,632						(9,092)						31,540
Rental income			14,735						—						32,552						10,139						—						57,426						—						57,426
Other revenues			5,344						2,102						474						3,270						631						11,821						—						11,821
Total revenues			669,373						128,809						33,026						112,660						631						944,499						(82,036)						862,463
Costs and expenses:
Management fees			357						—						—						—						71,239						71,596						—						71,596
Interest expense			346,045						74,260						18,044						15,927						154,419						608,695						(405)						608,290
General and administrative			30,141						10,541						2,651						46,862						9,024						99,219						—						99,219
Costs of rental operations			10,468						—						11,948						6,916						—						29,332						—						29,332
Depreciation and amortization			6,098						19						11,740						3,495						503						21,855						—						21,855
Credit loss (reversal) provision, net			(22,096)						2,763						—						—						—						(19,333)						—						(19,333)
Other expense			(25)						3,616						(76)						229						—						3,744						—						3,744
Total costs and expenses			370,988						91,199						44,307						73,429						235,185						815,108						(405)						814,703
Other income (loss):
Change in net assets related to consolidated VIEs			—						—						—						—						—						—						68,971						68,971
Change in fair value of servicing rights			—						—						—						3,454						—						3,454						(338)						3,116
Change in fair value of investment securities, net			5,339						—						—						(18,901)						—						(13,562)						13,734						172
Change in fair value of mortgage loans, net			50,999						—						—						37,272						—						88,271						—						88,271
Income from affordable housing fund investments			—						—						9,025						—						—						9,025						—						9,025
Earnings from unconsolidated entities			2,708						545						—						5,892						—						9,145						(736)						8,409
Gain on sale of investments and other assets, net			31,662						—						—						—						—						31,662						—						31,662
(Loss) gain on derivative financial instruments, net			(181,978)						(19)						(111)						(2,377)						43,500						(140,985)						—						(140,985)
Foreign currency gain (loss), net			117,873						866						(187)						—						—						118,552						—						118,552
Gain (loss) on extinguishment of debt			20,773						(783)						—						—						—						19,990						—						19,990
Other (loss) income, net			(1,226)						—						(1,464)						2,981						—						291						—						291
Total other income (loss)			46,150						609						7,263						28,321						43,500						125,843						81,631						207,474
Income (loss) before income taxes			344,535						38,219						(4,018)						67,552						(191,054)						255,234						—						255,234
Income tax benefit (provision)			5,201						(45)						—						(9,593)						—						(4,437)						—						(4,437)
Net income (loss)			349,736						38,174						(4,018)						57,959						(191,054)						250,797						—						250,797
Net (income) loss attributable to non-controlling interests			(7)						—						(10,410)						1,689						—						(8,728)						—						(8,728)
Net income (loss) attributable to Starwood Property Trust, Inc.			$	349,729					$	38,174					$	(14,428)					$	59,648					$	(191,054)					$	242,069					$	—					$	242,069

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Reconciliation of Net Income to Distributable Earnings

For the six months ended June 30, 2025

(Amounts in thousands except per share data)

			Commercial and Residential Lending Segment						Infrastructure Lending Segment						Property Segment						Investing and Servicing Segment						Corporate						Total
Net income (loss) attributable to Starwood Property Trust, Inc.			$	349,729					$	38,174					$	(14,428)					$	59,648					$	(191,054)					$	242,069
Add / (Deduct):
Non-controlling interests attributable to Woodstar II Class A Units			—						—						9,288						—						—						9,288
Non-controlling interests attributable to unrealized gains/losses			—						—						(6,757)						(7,202)						—						(13,959)
Non-cash equity compensation expense			5,636						1,323						216						2,764						16,841						26,780
Management incentive fee			—						—						—						—						10,244						10,244
Depreciation and amortization			6,270						—						11,958						3,697						—						21,925
Interest income adjustment for loans and securities			12,048						—						—						22,466						—						34,514
Consolidated income tax provision (benefit} associated with fair value adjustments			(5,201)						45						—						9,593						—						4,437
Other non-cash items			8						—						611						(746)						—						(127)
Reversal of GAAP unrealized and realized (gains) / losses on:
Loans			(50,999)						—						—						(37,272)						—						(88,271)
Credit loss (reversal) provision, net			(22,096)						2,763						—						—						—						(19,333)
Securities			(5,339)						—						—						18,901						—						13,562
Woodstar Fund investments			—						—						(9,025)						—						—						(9,025)
Derivatives			181,978						19						111						2,377						(43,500)						140,985
Foreign currency			(117,873)						(866)						187						—						—						(118,552)
Earnings from unconsolidated entities			(2,708)						(545)						—						(5,892)						—						(9,145)
Sales of properties			(4,128)						—						—						—						—						(4,128)
Recognition of Distributable realized gains / (losses) on:
Loans			(882)						—						—						33,872						—						32,990
Securities			(347)						—						—						(6,756)						—						(7,103)
Woodstar Fund investments			—						—						41,921						—						—						41,921
Derivatives			46,596						103						(196)						(677)						(13,902)						31,924
Foreign currency			2,057						58						(186)						—						—						1,929
Earnings (loss) from unconsolidated entities			2,708						(217)						—						6,407						—						8,898
Sales of properties			(44,438)						—						—						—						—						(44,438)
Distributable Earnings (Loss)			$	353,019					$	40,857					$	33,700					$	101,180					$	(221,371)					$	307,385
Distributable Earnings (Loss) per Weighted Average Diluted Share			$	1.00					$	0.12					$	0.10					$	0.29					$	(0.63)					$	0.88

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Starwood Property Trust, Inc. and Subsidiaries

Condensed Consolidated Balance Sheet by Segment

As of June 30, 2025

(Amounts in thousands)

			Commercial and Residential Lending Segment						Infrastructure Lending Segment						Property Segment						Investing and Servicing Segment						Corporate						Subtotal						Securitization VIEs						Total
Assets:
Cash and cash equivalents			$	20,699					$	89,036					$	31,842					$	60,226					$	58,118					$	259,921					$	—					$	259,921
Restricted cash			167,090						29,605						1,170						356						16,723						214,944						—						214,944
Loans held-for-investment, net			14,765,064						3,060,322						—						—						—						17,825,386						—						17,825,386
Loans held-for-sale			2,323,276						—						—						171,562						—						2,494,838						—						2,494,838
Investment securities			871,881						17,055						—						1,202,438						—						2,091,374						(1,588,776)						502,598
Properties, net			764,852						—						650,398						64,761						—						1,480,011						—						1,480,011
Investments of consolidated affordable housing fund			—						—						2,055,555						—						—						2,055,555						—						2,055,555
Investments in unconsolidated entities			8,514						54,651						—						33,225						—						96,390						(14,971)						81,419
Goodwill			—						119,409						—						140,437						—						259,846						—						259,846
Intangible assets			3,112						—						20,784						66,619						—						90,515						(36,083)						54,432
Derivative assets			64,565						—						4						11						7,374						71,954						—						71,954
Accrued interest receivable			147,344						16,241						—						816						240						164,641						—						164,641
Other assets			173,709						5,502						58,328						7,913						136,116						381,568						—						381,568
VIE assets, at fair value			—						—						—						—						—						—						36,522,250						36,522,250
Total Assets			$	19,310,106					$	3,391,821					$	2,818,081					$	1,748,364					$	218,571					$	27,486,943					$	34,882,420					$	62,369,363
Liabilities and Equity
Liabilities:
Accounts payable, accrued expenses and other liabilities			$	197,050					$	31,651					$	13,658					$	38,650					$	117,265					$	398,274					$	—					$	398,274
Related-party payable			—						—						—						—						25,846						25,846						—						25,846
Dividends payable			—						—						—						—						166,227						166,227						—						166,227
Derivative liabilities			125,447						—						—						—						16,894						142,341						—						142,341
Secured financing agreements, net			9,820,014						1,195,546						480,912						518,078						1,545,949						13,560,499						(20,110)						13,540,389
Collateralized loan obligations and single asset securitization, net			1,550,966						1,231,809						—						—						—						2,782,775						—						2,782,775
Unsecured senior notes, net			—						—						—						—						3,242,251						3,242,251						—						3,242,251
VIE liabilities, at fair value			—						—						—						—						—						—						34,902,530						34,902,530
Total Liabilities			11,693,477						2,459,006						494,570						556,728						5,114,432						20,318,213						34,882,420						55,200,633
Temporary Equity: Redeemable non-controlling interests			—						—						425,453						—						—						425,453						—						425,453
Permanent Equity:
Starwood Property Trust, Inc. Stockholders’ Equity:
Common stock			—						—						—						—						3,491						3,491						—						3,491
Additional paid-in capital			1,177,279						635,080						(395,728)						(596,291)						5,575,101						6,395,441						—						6,395,441
Treasury stock			—						—						—						—						(138,022)						(138,022)						—						(138,022)
Retained earnings (accumulated deficit)			6,426,450						297,735						2,087,961						1,672,800						(10,336,431)						148,515						—						148,515
Accumulated other comprehensive income			12,785						—						—						—						—						12,785						—						12,785
Total Starwood Property Trust, Inc. Stockholders’ Equity			7,616,514						932,815						1,692,233						1,076,509						(4,895,861)						6,422,210						—						6,422,210
Non-controlling interests in consolidated subsidiaries			115						—						205,825						115,127						—						321,067						—						321,067
Total Permanent Equity			7,616,629						932,815						1,898,058						1,191,636						(4,895,861)						6,743,277						—						6,743,277
Total Liabilities and Equity			$	19,310,106					$	3,391,821					$	2,818,081					$	1,748,364					$	218,571					$	27,486,943					$	34,882,420					$	62,369,363

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