Starwood Property spinning off single-family business into REIT

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Starwood Property Trust plans to spin off its single-family residential business into a real estate investment trust (REIT) to be called Starwood Waypoint Residential Trust.

With $750 million of capital invested in 5,817 units of single-family homes and nonperforming loans, the new REIT will be one of the largest publicly traded investors, owners and operators of U.S. single-family rental homes and nonperforming residential mortgage loans in the U.S. Source: prnewswire.com