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 for $194 million.

Citigroup (C) and Credit Suisse (CS) served as financial advisors to Starwood on the transaction.

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.

Most Popular Articles

NAR bans “pocket listings”

The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”

Nov 12, 2019 By

Latest Articles

Congressional vote on “de facto QM Patch” postponed

The House Financial Services Committee postponed a vote on H.R. 2445 on Wednesday, a bill that would fix the so-called QM Patch that’s set to expire in early 2021.

Nov 15, 2019 By