Starwood Property Trust to buy Fundamental Income Properties for $2.2 billion
Starwood Property Trust agreed to acquire Fundamental Income Properties, a net lease real estate platform majority owned by Brookfield Asset Management, for about $2.2 billion including debt, with closing expected on or about July 23, 2025. The company also gave preliminary second quarter results, showing GAAP earnings per diluted share of $0.36 to $0.38 and book value per share of $18.78 to $18.80, down from $18.87 at March 31, 2025, including a $44 million realized loss on a foreclosed office building sale.
Key points
- Purchase price of approximately $2.2 billion, inclusive of indebtedness; the company will assume $1.3 billion of existing financing facilities, including $0.9 billion of asset-backed security debt
- Expected closing on or about July 23, 2025, subject to customary closing conditions, with no assurance the deal closes on the anticipated terms or at all
- Preliminary Q2 2025 GAAP EPS of $0.36 to $0.38 and Distributable EPS of $0.42 to $0.44, including $44 million ($0.13 per share) in realized losses from the Houston, Texas office building sale
- Estimated book value per share of $18.78 to $18.80 at June 30, 2025, versus $18.87 at March 31, 2025; Q3 2025 dividend of $0.48 per share declared, payable October 15, 2025
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:00 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 16, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.