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Photo of residential development Arrowhead Ranch in Dripping Springs, TX, one of 55 residential and mixed-use projects in which Forestar has an interest.

MIAMI—A joint venture between Starwood Capital Group and Land Strategies Management (DBA Starwood Land Advisors) said Thursday it had acquired a portfolio of residential development projects from Forestar Group, now a subsidiary of D.R. Horton Inc. (DHI) after DHI won a bidding war with Starwood Capital last summer. The $232-million acquisition also includes multifamily and commercial assets.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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