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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets:    
Cash and cash equivalents $ 499,480 $ 377,831
Restricted cash 175,167 176,164
Loans held-for-investment, net of credit loss allowances of $440,842 and $448,295 18,862,712 15,437,013
Loans held-for-sale, at fair value 2,323,543 2,516,008
Investment securities, net of credit loss allowances of $37,369 and $24,463 ($121,433 and $126,297 held at fair value) 301,000 533,258
Properties, net 3,448,652 1,373,678
Investments of consolidated affordable housing fund, at fair value   2,073,533
Investments in unconsolidated entities 84,752 99,370
Goodwill 259,846 259,846
Intangible assets, net ($28,280 and $22,390 held at fair value) 436,059 60,704
Derivative assets 45,813 175,520
Accrued interest receivable 162,679 167,767
Other assets 362,991 368,229
Variable interest entity (“VIE”) assets, at fair value 34,493,164 38,937,576
Total Assets 63,183,357 62,556,497
Liabilities:    
Dividends payable 180,413 163,383
Derivative liabilities 83,983 94,890
Secured financing agreements, net 12,678,948 11,151,557
Securitized financing, net 5,131,453 3,196,426
Unsecured senior notes, net 4,283,836 2,994,682
VIE liabilities, at fair value 32,803,806 37,288,545
Total Liabilities 55,693,851 55,363,025
Commitments and contingencies (Note 23)
Temporary Equity: Redeemable non-controlling interests 364,118 426,695
Starwood Property Trust, Inc. Stockholders’ Equity:    
Preferred stock, $0.01 per share, 100,000,000 shares authorized, no shares issued and outstanding 0 0
Common stock, $0.01 per share, 500,000,000 shares authorized, 378,011,570 issued and 370,562,879 outstanding as of December 31, 2025 and 344,858,379 issued and 337,409,688 outstanding as of December 31, 2024 3,780 3,449
Additional paid-in capital 6,957,216 6,322,763
Treasury stock (7,448,691 shares) (138,022) (138,022)
Retained earnings (accumulated deficit) (39,018) 235,323
Accumulated other comprehensive income 11,560 13,594
Total Starwood Property Trust, Inc. Stockholders’ Equity 6,795,516 6,437,107
Non-controlling interests in consolidated subsidiaries 329,872 329,670
Total Permanent Equity 7,125,388 6,766,777
Total Liabilities and Equity 63,183,357 62,556,497
Nonrelated Party    
Liabilities:    
Accounts payable, accrued expenses and other liabilities 499,750 434,584
Related Party    
Liabilities:    
Accounts payable, accrued expenses and other liabilities 31,662 38,958
Primary beneficiary    
Assets:    
Investments of consolidated affordable housing fund, at fair value 1,727,499 $ 2,073,533
Total Assets $ 86,600