Starwood Waypoint Residential Trust announced on Monday a $150 million private offering of convertible senior notes due 2017.
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Buyers will have a 30-day window for an additional $22.5 million in senior securities.
Oakland, Calif.-based Starwood plans to use part of the capital raised to purchase more homes, distressed residential mortgage loans and some of its own stock.
The real estate investment firm made two large buys of nonperforming and delinquent mortgages in August and September.
The maturity date for the notes is Oct. 15, 2017.
