The last time I wrote about Starwood Property Trust (NYSE:STWD), I noted that this REIT was "head-and-shoulders above the rest of the commercial mortgage REIT pack." Since that time a couple of major players in the financial industry have also noticed the opportunity in the commercial mortgage space. Both Annaly Capital Management (NYSE:NLY) and Blackstone Group (NYSE:BX) have greatly increased their commercial real estate lending operations.
The New Competition
Since going public in 2009, Starwood Property Trust has built itself into a major player in commercial real estate lending. As the company notes in its presentations, Starwood Property filled a market need when many traditional lenders exited out of commercial real estate due...
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