|STARWOOD FINANCIAL ANNOUNCES 30% INCREASE IN REGULAR QUARTERLY DIVIDEND
NEW YORK – November 29, 1999 – Starwood Financial Inc. (NYSE: SFI), the leading publicly-traded finance company focused exclusively on the commercial real estate industry, today announced that its Board of Directors has declared a regular quarterly cash dividend on its common stock of $0.57 per share for the quarter ended December 31, 1999. The dividend is payable on January 28, 2000, to shareholders of record on December 31, 1999.
The $0.57 dividend represents a 30% increase over Starwood Financial’s third quarter 1999 dividend. On November 4, 1999, Starwood Financial consummated the acquisition by merger of TriNet Corporate Realty Trust, Inc. Starwood Financial’s $0.57 fourth quarter dividend is slightly higher than the third quarter dividend received by former TriNet stockholders (after factoring in the 1.15x exchange ratio in the merger). As stated in the Starwood Financial/TriNet merger proxy, Starwood Financial currently expects to further increase its quarterly dividend to $0.60 per share (or an annualized rate of $2.40 per share) for the first quarter of 2000, the first full quarter following completion of the merger on November 4, 1999.
Starwood Financial Inc. is the leading publicly-traded finance company focused exclusively on the commercial real estate industry. The company’s mission is to maximize risk-adjusted returns on equity by providing innovative and value-added financing solutions to the real estate industry. The company, which is taxed as a real estate investment trust, provides structured mortgage, mezzanine and lease financing through its proprietary origination, acquisition and servicing platform.
Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Starwood Financial believes the expectations reflected in any forward-looking
statements are based on reasonable assumptions, the company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the company’s expectations include the company’s ability to originate new investments, the availability and cost of capital for future investments, competition within the finance and real estate industries, real estate and economic conditions, and other risks detailed from time to time in SEC reports filed by Starwood Financial.
For more information on Starwood Financial Inc., via fax at no charge, please call
1-800-PRO-INFO and enter ticker symbol SFI.
# # #