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STARWOOD PROPERTY TRUST For Immediate Release Starwood Property Trust Reports Results for the Quarter Ended September 30 , 2021 - Quarterly GAAP Earnings of $ 0.44 and Distributable Earnings of $ 0.52 per Diluted Share - - $ 3.8 Billion of Investment Activity in Third Quarter - - $ 9.6 Billion of Investment Activity Year - to - Date , Including $ 5.6 Billion in Commercial Lending - - Paid Dividend of $ 0.48 per Share - - After Quarter End , Sold a 20.6 % Interest in New Investment Fund Which Holds Affordable Housing Portfolio at a $ 2.3 Billion Valuation - GREENWICH , Conn . , November 9 , 2021 / PRNewswire / Starwood Property Trust , Inc. ( NYSE : STWD ) today announced operating results for the fiscal quarter ended September 30 , 2021. The Company's third quarter 2021 GAAP net income was $ 128.6 million , or $ 0.44 per diluted share , and Distributable Earnings ( a non - GAAP financial measure ) was $ 155.1 million , or $ 0.52 per diluted share . -- " We have been telling you for years about the significant unrealized gains in our property portfolio which highlights the uniqueness of our diversified platform and differentiates us from our peers . We are pleased to announce that after quarter end , we established a new investment fund to hold our Woodstar affordable housing portfolio and sold a 20.6 % interest in the fund at a valuation that is approximately $ 1.1 billion in excess of our cost . This crystallized a portion of our embedded gain and validated over 80 % of the $ 4.57 per share estimated fair market value gains in our properties that we have spoken with you about . Our unique ability to monetize these embedded gains and create incremental value for our shareholders provides us enormous financial flexibility , " commented Barry Sternlicht , Chairman and CEO of Starwood Property Trust . " We deployed $ 3.8 billion of capital this quarter , growing our portfolio to an all - time high of over $ 21.0 billion . We further enhanced the strength of our balance sheet with the issuance of a $ 400.0 million corporate sustainability bond , and upsizes to our revolver , term loan and multifamily portfolio debt . We have a strong pipeline of domestic and international opportunities across our business cylinders and have already closed over $ 2.0 billion of investments in the fourth quarter , including $ 1.1 billion in commercial lending , " added Jeffrey DiModica , President of Starwood Property Trust . Supplemental Schedules The Company has published supplemental earnings schedules on its website in order to provide additional disclosure and financial information for the benefit of the Company's stakeholders . Specifically , these materials can be found on the Company's website in the Investor Relations section under " Quarterly Results " at www.starwoodpropertytrust.com . Webcast and Conference Call Information The Company will host a live webcast and conference call on Tuesday , November 9 , 2021 , at 10:00 a.m. Eastern Time . To listen to a live broadcast , access the site at least 15 minutes prior to the scheduled start time in order to register , download and install any necessary audio software . The webcast is available at