Starwood and Waypoint merge, spin off new REIT

11/1/2013 | Bloomberg

A merger between real estate investor Starwood Property Trust and rental-house investor Waypoint Real Estate Group will result in a new REIT. Starwood Waypoint Residential Trust will become the second-largest publicly traded single-family rental REIT by portfolio value after the merged companies give it $100 million in cash a $400 million line of credit and no debt.

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