Starwood Spins Off Single-Family Residential Biz Into REIT

Law360, New York (November 1, 2013, 1:33 PM EDT) -- Starwood Property Trust Inc. plans to spin off its single-family residential business to its stockholders, forming a new real estate investment trust called Starwood Waypoint Residential Trust, the firm said Thursday.

To be known on the New York Stock Exchange by the symbol SWAY, the REIT — an effective merging of Starwood's single-family rental home business with Waypoint Real Estate Group — will be one of the largest publicly traded investors, owners and operators of single-family rental homes and nonperforming mortgage loans in the U.S., according...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.