v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets:    
Cash and cash equivalents $ 367,592 $ 499,480
Restricted cash 272,764 175,167
Loans held-for-investment, net of credit loss allowances of $419,156 and $440,842 ($227,521 and none held at fair value) 19,816,968 18,862,712
Loans held-for-sale, at fair value 2,217,481 2,323,543
Investment securities, net of credit loss allowances of $55,258 and $37,369 ($119,780 and $121,433 held at fair value) 402,829 301,000
Properties, net 3,998,669 3,448,652
Investments in unconsolidated entities 88,201 84,752
Goodwill 259,846 259,846
Intangible assets, net ($29,487 and $28,280 held at fair value) 440,974 436,059
Derivative assets 24,406 45,813
Accrued interest receivable 200,816 162,679
Other assets 362,215 362,991
Variable interest entity (“VIE”) assets, at fair value 30,868,147 34,493,164
Total Assets 61,046,276 63,183,357
Liabilities:    
Dividends payable 180,744 180,413
Derivative liabilities 91,573 83,983
Secured financing agreements, net 13,999,891 12,678,948
Securitized financing, net 4,811,511 5,131,453
Unsecured senior notes, net 4,882,722 4,283,836
VIE liabilities, at fair value 29,293,820 32,803,806
Total Liabilities 53,862,850 55,693,851
Commitments and contingencies (Note 22)
Temporary Equity: Redeemable non-controlling interests 356,377 364,118
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, 379,785,339 issued and 370,628,310 outstanding as of June 30, 2026 and 378,011,570 issued and 370,562,879 outstanding as of December 31, 2025 3,798 3,780
Additional paid-in capital 6,991,339 6,957,216
Treasury stock (9,157,029 shares and 7,448,691 shares) (167,962) (138,022)
Accumulated deficit (337,909) (39,018)
Accumulated other comprehensive income 9,697 11,560
Total Starwood Property Trust, Inc. Stockholders’ Equity 6,498,963 6,795,516
Non-controlling interests in consolidated subsidiaries 328,086 329,872
Total Permanent Equity 6,827,049 7,125,388
Total Liabilities and Equity 61,046,276 63,183,357
Nonrelated Party    
Liabilities:    
Accounts payable, accrued expenses and other liabilities 575,556 499,750
Related Party    
Liabilities:    
Accounts payable, accrued expenses and other liabilities 27,033 31,662
Primary Beneficiary    
Assets:    
Investments of consolidated affordable housing fund, at fair value 1,725,368 $ 1,727,499
Total Assets $ 86,900