Starwood Property Trust and Starwood Capital Group to Acquire LNR Property LLC for $1.05B in Cash
Starwood Property Trust (NYSE: STWD) and Starwood Capital Group, on behalf of Starwood Distressed Opportunity Fund IX, today announced that they have entered into a definitive agreement to acquire LNR Property LLC ("LNR") for a total purchase price of $1.05 billion in cash.
LNR, founded in 1969, is a leading diversified real estate investment, finance, management and development firm with over 550 employees located in 12 offices throughout the US and Europe.
Under the terms of the agreement, Starwood Property Trust will acquire the following LNR business segments for a total purchase price of $856 million:
US Special Servicer – the largest US special servicer with over $131 billion in loans under management and real estate owned;
US Investment Securities Portfolio – a portfolio of legacy whole loans, CMBS and CDO investments;
Archetype Mortgage Capital – a commercial real estate conduit loan origination platform designed to provide unique