v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets:    
Cash and cash equivalents $ 290,285 $ 499,480
Restricted cash 375,777 175,167
Loans held-for-investment, net of credit loss allowances of $397,695 and $440,842 19,281,560 18,862,712
Loans held-for-sale, at fair value 2,322,940 2,323,543
Investment securities, net of credit loss allowances of $46,910 and $37,369 ($125,481 and $121,433 held at fair value) 308,203 301,000
Properties, net 3,859,134 3,448,652
Investments in unconsolidated entities 85,558 84,752
Goodwill 259,846 259,846
Intangible assets, net ($27,743 and $28,280 held at fair value) 426,655 436,059
Derivative assets 32,251 45,813
Accrued interest receivable 177,408 162,679
Other assets 538,466 362,991
Variable interest entity (“VIE”) assets, at fair value 32,399,812 34,493,164
Total Assets 62,087,328 63,183,357
Liabilities:    
Dividends payable 180,900 180,413
Derivative liabilities 79,430 83,983
Secured financing agreements, net 13,769,576 12,678,948
Securitized financing, net 5,081,897 5,131,453
Unsecured senior notes, net 4,287,646 4,283,836
VIE liabilities, at fair value 30,768,059 32,803,806
Total Liabilities 54,738,601 55,693,851
Commitments and contingencies (Note 22)
Temporary Equity: Redeemable non-controlling interests 357,487 364,118
Starwood Property Trust, Inc. Stockholders’ Equity:    
Preferred stock, $0.01 per share, 100,000,000 shares authorized, no shares issued and outstanding 0 0
Common stock, $0.01 per share, 500,000,000 shares authorized, 379,313,805 issued and 370,738,571 outstanding as of March 31, 2026 and 378,011,570 issued and 370,562,879 outstanding as of December 31, 2025 3,793 3,780
Additional paid-in capital 6,974,621 6,957,216
Treasury stock (8,575,234 shares and 7,448,691 shares) (157,958) (138,022)
Accumulated deficit (165,868) (39,018)
Accumulated other comprehensive income 10,881 11,560
Total Starwood Property Trust, Inc. Stockholders’ Equity 6,665,469 6,795,516
Non-controlling interests in consolidated subsidiaries 325,771 329,872
Total Permanent Equity 6,991,240 7,125,388
Total Liabilities and Equity 62,087,328 63,183,357
Nonrelated Party    
Liabilities:    
Accounts payable, accrued expenses and other liabilities 537,385 499,750
Related Party    
Liabilities:    
Accounts payable, accrued expenses and other liabilities 33,708 31,662
Primary Beneficiary    
Assets:    
Investments of consolidated affordable housing fund, at fair value 1,729,433 $ 1,727,499
Total Assets $ 79,800