On January 23, 2013, Starwood Property Trust, Inc. entered into a unit purchase agreement with LNR Property LLC, Aozora Investments LLC, CBR I LLC, iStar Marlin LLC, Opps VIIb LProp, L.P., and VNO LNR Holdco LLC, pursuant to which the company agreed to acquire all the outstanding equity interests of LNR upon the terms and subject to the conditions contained in the purchase agreement. The acquisition is expected to close during the second quarter of 2013, subject to the satisfaction or waiver of various closing conditions. At the closing of the acquisition, the company will pay an aggregate purchase price of $1,052,900,000 in cash.

The company has received financing commitments from Credit Suisse Securities (USA) LLC, Credit Suisse AG and Citigroup Global Markets Inc. for a $300 million senior secured bridge facility that may be used by the Company to fund a portion of the purchase price.