Starwood Property Trust just pegged industry veteran Dennis Schuh to head its originations business, according to two confidential sources. Schuh spent 17 years at JPMorgan and will now oversee Starwood’s balance-sheet lending, Bloomberg reports.
Starwood provides debt for commercial real estate deals across the US and Europe, like the REIT's recent underwriting of $475M of financing for NYC’s Hudson Yards development.
As stricter capital requirements (put in place after the 2008 crisis) make lending harder for banks, alternative loan originators like Starwood are looking to swoop in for a greater role in the financing sector. [Bloomberg]
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