v3.26.1
Segment Data - Results of Operations (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues:    
Interest income from loans $ 373,811 $ 353,923
Interest income from investment securities 5,438 12,221
Servicing fees 48,020 17,460
Rental income 79,971 29,183
Other revenues 5,216 5,393
Total revenues 512,456 418,180
Costs and expenses:    
Management fees 36,182 40,763
Interest expense 328,906 292,158
General and administrative 58,333 48,147
Costs of rental operations 23,134 14,820
Depreciation and amortization 33,726 11,484
Credit loss provision (reversal), net (377) (24,999)
Other expense 401 1,851
Total costs and expenses 480,305 384,224
Other income (loss):    
Change in net assets related to consolidated VIEs 32,502 28,691
Change in fair value of servicing rights (537) 753
Change in fair value of investment securities, net 89 (173)
Change in fair value of mortgage loans, net (12,668) 58,404
Earnings (loss) from unconsolidated entities 818 537
Gain on sale of investments and other assets, net 679 0
Gain (loss) on derivative financial instruments, net (2,463) (39,689)
Foreign currency (loss) gain, net (6,090) 34,791
Loss on extinguishment of debt (335) 0
Other (loss) income, net (3,133) (1,313)
Total other income (loss) 21,326 85,911
Income (loss) before income taxes 53,477 119,867
Income tax benefit (provision) 3,945 (3,766)
Net income (loss) 57,422 116,101
Net (income) loss attributable to non-controlling interests (5,544) (3,846)
Net income (loss) attributable to Starwood Property Trust, Inc. 51,878 112,255
Primary Beneficiary    
Other income (loss):    
Income from affordable housing fund investments 12,464 3,910
Subtotal    
Revenues:    
Interest income from loans 373,811 353,923
Interest income from investment securities 39,954 52,217
Servicing fees 51,731 21,894
Rental income 79,971 29,183
Other revenues 5,216 5,393
Total revenues 550,683 462,610
Costs and expenses:    
Management fees 36,182 40,763
Interest expense 329,050 292,353
General and administrative 58,333 48,147
Costs of rental operations 23,134 14,820
Depreciation and amortization 33,726 11,484
Credit loss provision (reversal), net (377) (24,999)
Other expense 401 1,851
Total costs and expenses 480,449 384,419
Other income (loss):    
Change in net assets related to consolidated VIEs 0 0
Change in fair value of servicing rights 1,004 (114)
Change in fair value of investment securities, net (7,470) (15,232)
Change in fair value of mortgage loans, net (12,668) 58,404
Earnings (loss) from unconsolidated entities 1,255 919
Gain on sale of investments and other assets, net 679  
Gain (loss) on derivative financial instruments, net (2,463) (39,689)
Foreign currency (loss) gain, net (6,090) 34,791
Loss on extinguishment of debt (335)  
Other (loss) income, net (3,133) (1,313)
Total other income (loss) (16,757) 41,676
Income (loss) before income taxes 53,477 119,867
Income tax benefit (provision) 3,945 (3,766)
Net income (loss) 57,422 116,101
Net (income) loss attributable to non-controlling interests (5,544) (3,846)
Net income (loss) attributable to Starwood Property Trust, Inc. 51,878 112,255
Subtotal | Primary Beneficiary    
Other income (loss):    
Income from affordable housing fund investments 12,464 3,910
Operating segment | Commercial and Residential Lending Segment    
Revenues:    
Interest income from loans 310,314 290,299
Interest income from investment securities 15,637 23,889
Servicing fees 112 65
Rental income 16,305 8,203
Other revenues 2,213 3,010
Total revenues 344,581 325,466
Costs and expenses:    
Management fees 32 180
Interest expense 154,923 165,551
General and administrative 16,792 14,606
Costs of rental operations 13,216 5,518
Depreciation and amortization 4,237 3,607
Credit loss provision (reversal), net 586 (25,759)
Other expense 77 (25)
Total costs and expenses 189,863 163,678
Other income (loss):    
Change in net assets related to consolidated VIEs 0 0
Change in fair value of servicing rights 0 0
Change in fair value of investment securities, net 451 7,397
Change in fair value of mortgage loans, net (20,980) 42,574
Earnings (loss) from unconsolidated entities 0 1,296
Gain on sale of investments and other assets, net 210  
Gain (loss) on derivative financial instruments, net 16,363 (65,838)
Foreign currency (loss) gain, net (6,115) 34,616
Loss on extinguishment of debt 0  
Other (loss) income, net (2,875) (489)
Total other income (loss) (12,946) 19,556
Income (loss) before income taxes 141,772 181,344
Income tax benefit (provision) 11,728 (294)
Net income (loss) 153,500 181,050
Net (income) loss attributable to non-controlling interests (3) (3)
Net income (loss) attributable to Starwood Property Trust, Inc. 153,497 181,047
Operating segment | Commercial and Residential Lending Segment | Primary Beneficiary    
Other income (loss):    
Income from affordable housing fund investments 0 0
Operating segment | Infrastructure Lending Segment    
Revenues:    
Interest income from loans 61,438 60,456
Interest income from investment securities 384 154
Servicing fees 0 0
Rental income 0 0
Other revenues 1,473 1,015
Total revenues 63,295 61,625
Costs and expenses:    
Management fees 0 0
Interest expense 36,696 35,154
General and administrative 5,918 5,018
Costs of rental operations 0 0
Depreciation and amortization 10 10
Credit loss provision (reversal), net (963) 760
Other expense 112 1,923
Total costs and expenses 41,773 42,865
Other income (loss):    
Change in net assets related to consolidated VIEs 0 0
Change in fair value of servicing rights 0 0
Change in fair value of investment securities, net 0 0
Change in fair value of mortgage loans, net 0 0
Earnings (loss) from unconsolidated entities 843 (622)
Gain on sale of investments and other assets, net 0  
Gain (loss) on derivative financial instruments, net 89 (19)
Foreign currency (loss) gain, net 0 236
Loss on extinguishment of debt (31)  
Other (loss) income, net 51 0
Total other income (loss) 952 (405)
Income (loss) before income taxes 22,474 18,355
Income tax benefit (provision) (50) (133)
Net income (loss) 22,424 18,222
Net (income) loss attributable to non-controlling interests 0 0
Net income (loss) attributable to Starwood Property Trust, Inc. 22,424 18,222
Operating segment | Infrastructure Lending Segment | Primary Beneficiary    
Other income (loss):    
Income from affordable housing fund investments 0 0
Operating segment | Property Segment    
Revenues:    
Interest income from loans 0 0
Interest income from investment securities 0 0
Servicing fees 0 0
Rental income 60,843 16,315
Other revenues 457 234
Total revenues 61,300 16,549
Costs and expenses:    
Management fees 0 0
Interest expense 27,951 8,977
General and administrative 8,868 1,414
Costs of rental operations 7,260 6,018
Depreciation and amortization 28,078 5,865
Credit loss provision (reversal), net 0 0
Other expense 72 (82)
Total costs and expenses 72,229 22,192
Other income (loss):    
Change in net assets related to consolidated VIEs 0 0
Change in fair value of servicing rights 0 0
Change in fair value of investment securities, net 0 0
Change in fair value of mortgage loans, net 0 0
Earnings (loss) from unconsolidated entities 0 0
Gain on sale of investments and other assets, net 469  
Gain (loss) on derivative financial instruments, net 2,276 (98)
Foreign currency (loss) gain, net 25 (61)
Loss on extinguishment of debt (304)  
Other (loss) income, net (309) (828)
Total other income (loss) 14,621 2,923
Income (loss) before income taxes 3,692 (2,720)
Income tax benefit (provision) 17 0
Net income (loss) 3,709 (2,720)
Net (income) loss attributable to non-controlling interests (6,827) (5,084)
Net income (loss) attributable to Starwood Property Trust, Inc. (3,118) (7,804)
Operating segment | Property Segment | Primary Beneficiary    
Other income (loss):    
Income from affordable housing fund investments 12,464 3,910
Operating segment | Investing and Servicing Segment    
Revenues:    
Interest income from loans 2,059 3,168
Interest income from investment securities 23,933 28,174
Servicing fees 51,619 21,829
Rental income 2,823 4,665
Other revenues 403 1,039
Total revenues 80,837 58,875
Costs and expenses:    
Management fees 0 0
Interest expense 6,826 8,133
General and administrative 21,928 22,501
Costs of rental operations 2,658 3,284
Depreciation and amortization 1,150 1,751
Credit loss provision (reversal), net 0 0
Other expense 140 35
Total costs and expenses 32,702 35,704
Other income (loss):    
Change in net assets related to consolidated VIEs 0 0
Change in fair value of servicing rights 1,004 (114)
Change in fair value of investment securities, net (7,921) (22,629)
Change in fair value of mortgage loans, net 8,312 15,830
Earnings (loss) from unconsolidated entities 412 245
Gain on sale of investments and other assets, net 0  
Gain (loss) on derivative financial instruments, net 242 (1,073)
Foreign currency (loss) gain, net 0 0
Loss on extinguishment of debt 0  
Other (loss) income, net 0 4
Total other income (loss) 2,049 (7,737)
Income (loss) before income taxes 50,184 15,434
Income tax benefit (provision) (7,750) (3,339)
Net income (loss) 42,434 12,095
Net (income) loss attributable to non-controlling interests 1,286 1,241
Net income (loss) attributable to Starwood Property Trust, Inc. 43,720 13,336
Operating segment | Investing and Servicing Segment | Primary Beneficiary    
Other income (loss):    
Income from affordable housing fund investments 0 0
Corporate    
Revenues:    
Interest income from loans 0 0
Interest income from investment securities 0 0
Servicing fees 0 0
Rental income 0 0
Other revenues 670 95
Total revenues 670 95
Costs and expenses:    
Management fees 36,150 40,583
Interest expense 102,654 74,538
General and administrative 4,827 4,608
Costs of rental operations 0 0
Depreciation and amortization 251 251
Credit loss provision (reversal), net 0 0
Other expense 0 0
Total costs and expenses 143,882 119,980
Other income (loss):    
Change in net assets related to consolidated VIEs 0 0
Change in fair value of servicing rights 0 0
Change in fair value of investment securities, net 0 0
Change in fair value of mortgage loans, net 0 0
Earnings (loss) from unconsolidated entities 0 0
Gain on sale of investments and other assets, net 0  
Gain (loss) on derivative financial instruments, net (21,433) 27,339
Foreign currency (loss) gain, net 0 0
Loss on extinguishment of debt 0  
Other (loss) income, net 0 0
Total other income (loss) (21,433) 27,339
Income (loss) before income taxes (164,645) (92,546)
Income tax benefit (provision) 0 0
Net income (loss) (164,645) (92,546)
Net (income) loss attributable to non-controlling interests 0 0
Net income (loss) attributable to Starwood Property Trust, Inc. (164,645) (92,546)
Corporate | Primary Beneficiary    
Other income (loss):    
Income from affordable housing fund investments 0 0
Securitization VIEs    
Revenues:    
Interest income from loans 0 0
Interest income from investment securities (34,516) (39,996)
Servicing fees (3,711) (4,434)
Rental income 0 0
Other revenues 0 0
Total revenues (38,227) (44,430)
Costs and expenses:    
Management fees 0 0
Interest expense (144) (195)
General and administrative 0 0
Costs of rental operations 0 0
Depreciation and amortization 0 0
Credit loss provision (reversal), net 0 0
Other expense 0 0
Total costs and expenses (144) (195)
Other income (loss):    
Change in net assets related to consolidated VIEs 32,502 28,691
Change in fair value of servicing rights (1,541) 867
Change in fair value of investment securities, net 7,559 15,059
Change in fair value of mortgage loans, net 0 0
Earnings (loss) from unconsolidated entities (437) (382)
Gain on sale of investments and other assets, net 0  
Gain (loss) on derivative financial instruments, net 0 0
Foreign currency (loss) gain, net 0 0
Loss on extinguishment of debt 0  
Other (loss) income, net 0 0
Total other income (loss) 38,083 44,235
Income (loss) before income taxes 0 0
Income tax benefit (provision) 0 0
Net income (loss) 0 0
Net (income) loss attributable to non-controlling interests 0 0
Net income (loss) attributable to Starwood Property Trust, Inc. 0 0
Securitization VIEs | Primary Beneficiary    
Other income (loss):    
Income from affordable housing fund investments $ 0 $ 0