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Starwood Property Trust Inc. raised more than $800 million in an initial public offering of stock Wednesday, 60 percent more than it originally targeted, with the company planning to use the cash to invest in commercial and residential real estate debt.
Formed as a real estate investment trust in Greenwich, Starwood Property will be managed by an affiliate of Starwood Capital Group, which is run by Barry Sternlicht who also founded White Plains, N.Y.-based Starwood Hotels & Resorts Worldwide Inc.
