Starwood Property Trust finances California office complex purchase and rehab

|About: Starwood Property Trust,... (STWD)|By:, SA News Editor

The 1M square foot California Center office complex in Pleasanton, CA was purchased by Swift Real Estate Partners for $160M. Starwood (STWD) provided $152M in financing, but before anyone worries about too steep of a LTV ratio, just $106.5M is for the purchase, and $45.5M will be used to pay for capital improvements.