New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 27, 2014
07:32 EDTSWAYStarwood Waypoint Residential acquires large pool on non-performing loans
Starwood Waypoint Residential Trust completed a $117M purchase of 1,441 non-performing loans. The purchase price represents approximately 61.8% of the total unpaid principal balance of $189.4M and 68.2% of the estimated broker price opinion value of $171.6M. This acquisition represents the seventh NPL pool purchased by the company and its predecessor entities, which in aggregate represents a total purchase price of $473.6M. This total purchase price represents approximately 54.7% of the total UPB of $866M and 64.9% of the estimated total BPO value of $729.4M at the time of each purchase. In addition, the company has entered into an agreement to upsize its existing $350M warehouse credit facility with Deutsche Bank A.G. to $500M. The credit facility has a term expiring in September, 2015 with a one-year extension. The additional $150M of capacity to the warehouse credit facility will be used to finance the acquisition of non-performing loan pools. At June 26, the company had utilized approximately $252M of capacity and had approximately $248M of availability under the expanded credit facility. Combined with the recent expansion of its $1B revolving credit facility secured by single-family residences, the company has a total credit capacity for investing in single-family residences and non-performing loan pools of $1.5B, with the ability to expand the capacity to $1.75B with the accordion feature of the revolving credit facility.
News For SWAY From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 20, 2014
12:32 EDTSWAYStarwood Waypoint management to meet with Sterne Agee
Subscribe for More Information
November 12, 2014
07:04 EDTSWAYStarwood Waypoint reports Q3 core FFO 16c, consensus 0c
Reports Q3 revenue $39.2M, consensus $48.03M.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use