CHICAGO-Barry Sternlicht's Starwood Capital Group is moving ahead to extend its investments in distressed condos, using the experience gained when it headed a group that acquired the assets of Corus Bank. The group of investors, who have purchased the $4.5 billion portfolio of Corus from the Federal Deposit Insurance Corp., is bidding on other distressed assets.
The Starwood-led group, which includes Perry Capital LLC, WLR LeFrak and TPG Capital, bought the 101-loan portfolio of the Corus assets. For the full story, go to Wall Street Journal.
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