Starwood Property Trust completed their previously announced acquisition of LNR Property on Monday.
Under terms of the agreement, Starwood (STWD) acquired various business segments of LNR including the U.S. special servicer, the U.S. investment securities portfolio and Archetype Mortgage Capital.
The acquisition of LNR’s business segments totaled $862 million. Additionally, Starwood acquired both LNR’s US Commercial Property Group and half the ownership interest in Auction.com for $194 million.
Starwood was a primary investor in the real estate sector throughout 2012 as well as the beginning of this year, creating a solid floor under home prices.
As a result, if housing has a floor under the pricing, the paper will trade better and become stronger, David Lichenstein, CEO and chairman of The Lightstone Group told HousingWire.