v3.26.1
Segment Data - Results of Operations (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Interest income from loans $ 398,415 $ 385,219 $ 772,226 $ 739,142
Interest income from investment securities 4,750 10,313 10,188 22,534
Servicing fees 16,667 14,080 64,687 31,540
Rental income 87,854 28,243 167,825 57,426
Other revenues 5,982 6,428 11,198 11,821
Total revenues 513,668 444,283 1,026,124 862,463
Costs and expenses:        
Management fees 30,557 30,833 66,739 71,596
Interest expense 344,577 316,132 673,483 608,290
General and administrative 56,694 51,072 115,027 99,219
Costs of rental operations 26,313 14,512 49,447 29,332
Depreciation and amortization 35,260 10,371 68,986 21,855
Credit loss (reversal) provision, net 30,164 5,666 29,787 (19,333)
Other expense 1,203 1,893 1,604 3,744
Total costs and expenses 524,768 430,479 1,005,073 814,703
Other income (loss):        
Change in net assets related to consolidated VIEs 33,087 40,280 65,589 68,971
Change in fair value of servicing rights 1,744 2,363 1,207 3,116
Change in fair value of investment securities, net (52) 345 37 172
Change in fair value of mortgage loans, net (61) 29,867 (12,729) 88,271
Earnings from unconsolidated entities 2,716 7,872 3,534 8,409
Gain on sale of investments and other assets, net 2,379 31,662 3,058 31,662
Gain (loss) on derivative financial instruments, net (3,024) (101,296) (5,487) (140,985)
Foreign currency (loss) gain, net (5,706) 83,761 (11,796) 118,552
Gain (loss) on extinguishment of debt 0 19,990 (335) 19,990
Other (loss) income, net (3,683) 1,604 (6,816) 291
Total other (loss) income 32,329 121,563 53,655 207,474
Income (loss) before income taxes 21,229 135,367 74,706 255,234
Income tax (provision) benefit (6,224) (671) (2,279) (4,437)
Net income (loss) 15,005 134,696 72,427 250,797
Net (income) loss attributable to non-controlling interests (8,448) (4,882) (13,992) (8,728)
Net income (loss) attributable to Starwood Property Trust, Inc. 6,557 129,814 58,435 242,069
Primary Beneficiary        
Other income (loss):        
Income from affordable housing fund investments 4,929 5,115 17,393 9,025
Subtotal        
Revenues:        
Interest income from loans 398,415 385,219 772,226 739,142
Interest income from investment securities 37,995 43,261 77,949 95,478
Servicing fees 20,587 18,738 72,318 40,632
Rental income 87,854 28,243 167,825 57,426
Other revenues 5,982 6,428 11,198 11,821
Total revenues 550,833 481,889 1,101,516 944,499
Costs and expenses:        
Management fees 30,557 30,833 66,739 71,596
Interest expense 344,831 316,342 673,881 608,695
General and administrative 56,694 51,072 115,027 99,219
Costs of rental operations 26,313 14,512 49,447 29,332
Depreciation and amortization 35,260 10,371 68,986 21,855
Credit loss (reversal) provision, net 30,164 5,666 29,787 (19,333)
Other expense 1,203 1,893 1,604 3,744
Total costs and expenses 525,022 430,689 1,005,471 815,108
Other income (loss):        
Change in net assets related to consolidated VIEs 0 0 0 0
Change in fair value of servicing rights 1,018 3,568 2,022 3,454
Change in fair value of investment securities, net (3,304) 1,670 (10,774) (13,562)
Change in fair value of mortgage loans, net (61) 29,867 (12,729) 88,271
Earnings from unconsolidated entities 2,870 8,226 4,125 9,145
Gain on sale of investments and other assets, net 2,379 31,662 3,058 31,662
Gain (loss) on derivative financial instruments, net (3,024) (101,296) (5,487) (140,985)
Foreign currency (loss) gain, net (5,706) 83,761 (11,796) 118,552
Gain (loss) on extinguishment of debt   19,990 (335) 19,990
Other (loss) income, net (3,683) 1,604 (6,816) 291
Total other (loss) income (4,582) 84,167 (21,339) 125,843
Income (loss) before income taxes 21,229 135,367 74,706 255,234
Income tax (provision) benefit (6,224) (671) (2,279) (4,437)
Net income (loss) 15,005 134,696 72,427 250,797
Net (income) loss attributable to non-controlling interests (8,448) (4,882) (13,992) (8,728)
Net income (loss) attributable to Starwood Property Trust, Inc. 6,557 129,814 58,435 242,069
Subtotal | Primary Beneficiary        
Other income (loss):        
Income from affordable housing fund investments 4,929 5,115 17,393 9,025
Operating segment | Commercial and Residential Lending Segment        
Revenues:        
Interest income from loans 327,151 313,595 637,465 603,894
Interest income from investment securities 15,344 21,335 30,981 45,224
Servicing fees 111 111 223 176
Rental income 19,808 6,532 36,113 14,735
Other revenues 1,800 2,334 4,013 5,344
Total revenues 364,214 343,907 708,795 669,373
Costs and expenses:        
Management fees 165 177 197 357
Interest expense 160,750 180,494 315,673 346,045
General and administrative 14,979 15,535 31,771 30,141
Costs of rental operations 16,161 4,950 29,377 10,468
Depreciation and amortization 4,780 2,491 9,017 6,098
Credit loss (reversal) provision, net 29,816 3,663 30,402 (22,096)
Other expense 88 0 165 (25)
Total costs and expenses 226,739 207,310 416,602 370,988
Other income (loss):        
Change in net assets related to consolidated VIEs 0 0 0 0
Change in fair value of servicing rights 0 0 0 0
Change in fair value of investment securities, net (1,587) (2,058) (1,136) 5,339
Change in fair value of mortgage loans, net (12,711) 8,425 (33,691) 50,999
Earnings from unconsolidated entities 0 1,412 0 2,708
Gain on sale of investments and other assets, net 88 31,662 298 31,662
Gain (loss) on derivative financial instruments, net 21,529 (116,140) 37,892 (181,978)
Foreign currency (loss) gain, net (5,719) 83,257 (11,834) 117,873
Gain (loss) on extinguishment of debt   20,773 0 20,773
Other (loss) income, net (2,597) (737) (5,472) (1,226)
Total other (loss) income (997) 26,594 (13,943) 46,150
Income (loss) before income taxes 136,478 163,191 278,250 344,535
Income tax (provision) benefit (2,536) 5,495 9,192 5,201
Net income (loss) 133,942 168,686 287,442 349,736
Net (income) loss attributable to non-controlling interests (4) (4) (7) (7)
Net income (loss) attributable to Starwood Property Trust, Inc. 133,938 168,682 287,435 349,729
Operating segment | Commercial and Residential Lending Segment | Primary Beneficiary        
Other income (loss):        
Income from affordable housing fund investments 0 0 0 0
Operating segment | Infrastructure Lending Segment        
Revenues:        
Interest income from loans 66,991 65,949 128,429 126,405
Interest income from investment securities 481 148 865 302
Servicing fees 0 0 0 0
Rental income 0 0 0 0
Other revenues 1,474 1,087 2,947 2,102
Total revenues 68,946 67,184 132,241 128,809
Costs and expenses:        
Management fees 0 0 0 0
Interest expense 38,625 39,106 75,321 74,260
General and administrative 6,015 5,523 11,933 10,541
Costs of rental operations 0 0 0 0
Depreciation and amortization 9 9 19 19
Credit loss (reversal) provision, net 348 2,003 (615) 2,763
Other expense 787 1,693 899 3,616
Total costs and expenses 45,784 48,334 87,557 91,199
Other income (loss):        
Change in net assets related to consolidated VIEs 0 0 0 0
Change in fair value of servicing rights 0 0 0 0
Change in fair value of investment securities, net 0 0 0 0
Change in fair value of mortgage loans, net 0 0 0 0
Earnings from unconsolidated entities 2,677 1,167 3,520 545
Gain on sale of investments and other assets, net 0 0 0 0
Gain (loss) on derivative financial instruments, net 350 0 439 (19)
Foreign currency (loss) gain, net 0 630 0 866
Gain (loss) on extinguishment of debt   (783) (31) (783)
Other (loss) income, net 0 0 51 0
Total other (loss) income 3,027 1,014 3,979 609
Income (loss) before income taxes 26,189 19,864 48,663 38,219
Income tax (provision) benefit (95) 88 (145) (45)
Net income (loss) 26,094 19,952 48,518 38,174
Net (income) loss attributable to non-controlling interests 0 0 0 0
Net income (loss) attributable to Starwood Property Trust, Inc. 26,094 19,952 48,518 38,174
Operating segment | Infrastructure Lending Segment | Primary Beneficiary        
Other income (loss):        
Income from affordable housing fund investments 0 0 0 0
Operating segment | Property Segment        
Revenues:        
Interest income from loans 0 0 0 0
Interest income from investment securities 0 0 0 0
Servicing fees 0 0 0 0
Rental income 63,827 16,237 124,670 32,552
Other revenues 362 240 819 474
Total revenues 64,189 16,477 125,489 33,026
Costs and expenses:        
Management fees 0 0 0 0
Interest expense 28,775 9,067 56,726 18,044
General and administrative 7,925 1,237 16,793 2,651
Costs of rental operations 7,254 5,930 14,514 11,948
Depreciation and amortization 29,137 5,875 57,215 11,740
Credit loss (reversal) provision, net 0 0 0 0
Other expense 227 6 299 (76)
Total costs and expenses 73,318 22,115 145,547 44,307
Other income (loss):        
Change in net assets related to consolidated VIEs 0 0 0 0
Change in fair value of servicing rights 0 0 0 0
Change in fair value of investment securities, net 0 0 0 0
Change in fair value of mortgage loans, net 0 0 0 0
Earnings from unconsolidated entities 0 0 0 0
Gain on sale of investments and other assets, net 27 0 496 0
Gain (loss) on derivative financial instruments, net 8,354 (13) 10,630 (111)
Foreign currency (loss) gain, net 13 (126) 38 (187)
Gain (loss) on extinguishment of debt   0 (304) 0
Other (loss) income, net (1,092) (636) (1,401) (1,464)
Total other (loss) income 12,231 4,340 26,852 7,263
Income (loss) before income taxes 3,102 (1,298) 6,794 (4,018)
Income tax (provision) benefit 8 0 25 0
Net income (loss) 3,110 (1,298) 6,819 (4,018)
Net (income) loss attributable to non-controlling interests (5,325) (5,326) (12,152) (10,410)
Net income (loss) attributable to Starwood Property Trust, Inc. (2,215) (6,624) (5,333) (14,428)
Operating segment | Property Segment | Primary Beneficiary        
Other income (loss):        
Income from affordable housing fund investments 4,929 5,115 17,393 9,025
Operating segment | Investing and Servicing Segment        
Revenues:        
Interest income from loans 4,273 5,675 6,332 8,843
Interest income from investment securities 22,170 21,778 46,103 49,952
Servicing fees 20,476 18,627 72,095 40,456
Rental income 4,219 5,474 7,042 10,139
Other revenues 1,524 2,231 1,927 3,270
Total revenues 52,662 53,785 133,499 112,660
Costs and expenses:        
Management fees 0 0 0 0
Interest expense 9,117 7,794 15,943 15,927
General and administrative 23,661 24,361 45,589 46,862
Costs of rental operations 2,898 3,632 5,556 6,916
Depreciation and amortization 1,082 1,744 2,232 3,495
Credit loss (reversal) provision, net 0 0 0 0
Other expense 101 194 241 229
Total costs and expenses 36,859 37,725 69,561 73,429
Other income (loss):        
Change in net assets related to consolidated VIEs 0 0 0 0
Change in fair value of servicing rights 1,018 3,568 2,022 3,454
Change in fair value of investment securities, net (1,717) 3,728 (9,638) (18,901)
Change in fair value of mortgage loans, net 12,650 21,442 20,962 37,272
Earnings from unconsolidated entities 193 5,647 605 5,892
Gain on sale of investments and other assets, net 2,264 0 2,264 0
Gain (loss) on derivative financial instruments, net 983 (1,304) 1,225 (2,377)
Foreign currency (loss) gain, net 0 0 0 0
Gain (loss) on extinguishment of debt   0 0 0
Other (loss) income, net 6 2,977 6 2,981
Total other (loss) income 15,397 36,058 17,446 28,321
Income (loss) before income taxes 31,200 52,118 81,384 67,552
Income tax (provision) benefit (3,601) (6,254) (11,351) (9,593)
Net income (loss) 27,599 45,864 70,033 57,959
Net (income) loss attributable to non-controlling interests (3,119) 448 (1,833) 1,689
Net income (loss) attributable to Starwood Property Trust, Inc. 24,480 46,312 68,200 59,648
Operating segment | Investing and Servicing Segment | Primary Beneficiary        
Other income (loss):        
Income from affordable housing fund investments 0 0 0 0
Corporate        
Revenues:        
Interest income from loans 0 0 0 0
Interest income from investment securities 0 0 0 0
Servicing fees 0 0 0 0
Rental income 0 0 0 0
Other revenues 822 536 1,492 631
Total revenues 822 536 1,492 631
Costs and expenses:        
Management fees 30,392 30,656 66,542 71,239
Interest expense 107,564 79,881 210,218 154,419
General and administrative 4,114 4,416 8,941 9,024
Costs of rental operations 0 0 0 0
Depreciation and amortization 252 252 503 503
Credit loss (reversal) provision, net 0 0 0 0
Other expense 0 0 0 0
Total costs and expenses 142,322 115,205 286,204 235,185
Other income (loss):        
Change in net assets related to consolidated VIEs 0 0 0 0
Change in fair value of servicing rights 0 0 0 0
Change in fair value of investment securities, net 0 0 0 0
Change in fair value of mortgage loans, net 0 0 0 0
Earnings from unconsolidated entities 0 0 0 0
Gain on sale of investments and other assets, net 0 0 0 0
Gain (loss) on derivative financial instruments, net (34,240) 16,161 (55,673) 43,500
Foreign currency (loss) gain, net 0 0 0 0
Gain (loss) on extinguishment of debt   0 0 0
Other (loss) income, net 0 0 0 0
Total other (loss) income (34,240) 16,161 (55,673) 43,500
Income (loss) before income taxes (175,740) (98,508) (340,385) (191,054)
Income tax (provision) benefit 0 0 0 0
Net income (loss) (175,740) (98,508) (340,385) (191,054)
Net (income) loss attributable to non-controlling interests 0 0 0 0
Net income (loss) attributable to Starwood Property Trust, Inc. (175,740) (98,508) (340,385) (191,054)
Corporate | Primary Beneficiary        
Other income (loss):        
Income from affordable housing fund investments 0 0 0 0
Securitization VIEs        
Revenues:        
Interest income from loans 0 0 0 0
Interest income from investment securities (33,245) (32,948) (67,761) (72,944)
Servicing fees (3,920) (4,658) (7,631) (9,092)
Rental income 0 0 0 0
Other revenues 0 0 0 0
Total revenues (37,165) (37,606) (75,392) (82,036)
Costs and expenses:        
Management fees 0 0 0 0
Interest expense (254) (210) (398) (405)
General and administrative 0 0 0 0
Costs of rental operations 0 0 0 0
Depreciation and amortization 0 0 0 0
Credit loss (reversal) provision, net 0 0 0 0
Other expense 0 0 0 0
Total costs and expenses (254) (210) (398) (405)
Other income (loss):        
Change in net assets related to consolidated VIEs 33,087 40,280 65,589 68,971
Change in fair value of servicing rights 726 (1,205) (815) (338)
Change in fair value of investment securities, net 3,252 (1,325) 10,811 13,734
Change in fair value of mortgage loans, net 0 0 0 0
Earnings from unconsolidated entities (154) (354) (591) (736)
Gain on sale of investments and other assets, net 0 0 0 0
Gain (loss) on derivative financial instruments, net 0 0 0 0
Foreign currency (loss) gain, net 0 0 0 0
Gain (loss) on extinguishment of debt   0 0 0
Other (loss) income, net 0 0 0 0
Total other (loss) income 36,911 37,396 74,994 81,631
Income (loss) before income taxes 0 0 0 0
Income tax (provision) benefit 0 0 0 0
Net income (loss) 0 0 0 0
Net (income) loss attributable to non-controlling interests 0 0 0 0
Net income (loss) attributable to Starwood Property Trust, Inc. 0 0 0 0
Securitization VIEs | Primary Beneficiary        
Other income (loss):        
Income from affordable housing fund investments $ 0 $ 0 $ 0 $ 0