Starwood Credit Real Estate Income Trust: debt financing — Starwood Credit REIT enters $250M repurchase facility with Citibank; appoints Zachary Tanenbaum as COO

Starwood Credit Real Estate Income Trust

Enters $250M Master Repurchase Agreement with Citibank, N.A. to finance eligible loan acquisitions/originations.
Facility matures December 14, 2025, with three 1-year extension options subject to customary conditions.
Starwood Credit provides a guaranty covering up to 25% of outstanding obligations; may become full recourse on certain events.
Elects Zachary H. Tanenbaum as Chief Operating Officer, effective December 13, 2023; he also remains Head of Investor Relations.

item 1.01 item 2.03 item 5.02 item 9.01

Executive movements

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Appointed

Zachary H. Tanenbaum

Chief Operating Officer

Starwood Credit Real Estate Income Trust

Effective: 2023-12-13
Filed: December 19, 2023, 6:59 PM ET

On December 13, 2023, the Board of Trustees of the Company elected Zachary H. Tanenbaum to serve as the Company’s Chief Operating Officer, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Starwood Credit Real Estate Income Trust incurred credit facility of up to $250 million with Citibank, N.A. at Term SOFR Reference Rate plus a margin maturing December 14, 2025, subject to three (3) one (1) year extension options.

Instrument: credit facility
Principal: up to $250 million
Counterparty: Citibank, N.A.
Rate: Term SOFR Reference Rate plus a margin
Maturity: December 14, 2025, subject to three (3) one (1) year extension options
Event: incurrence

Exact text from the filing

wned special-purpose financing subsidiaries of Starwood Credit Real Estate Income Trust, a Maryland statutory trust (the “Company”), entered into a Master Repurchase Agreement (together with the related transaction documents, the “Repurchase Agreement”), with Citibank, N.A. (“Citibank”), to finance the acquisition and origination by the Sellers of eligible loans as more particularly described in the Repurchase Agreement.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Zachary H. Tanenbaum was elected as Chief Operating Officer at Starwood Credit Real Estate Income Trust.

Action: elected
Role: Chief Operating Officer

Exact text from the filing

On December 13, 2023, the Board of Trustees of the Company elected Zachary H. Tanenbaum to serve as the Company’s Chief Operating Officer, effective immediately.

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-23-298684

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