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.