Starwood Capital Snags 21-Story Midtown NYC Office

Law360, New York (June 11, 2012, 4:43 PM EDT) -- Real estate investment firm Starwood Capital Group has purchased a 21-story retail and office building at 1372 Broadway in Manhattan from BLDG Management Co. Inc. for an undisclosed price, the firm announced Monday.

Starwood bought the 100 percent leased building from BLDG on behalf of Starwood Distressed Opportunity Fund IX, which raised $1.2 billion in its first round of financing earlier this year. The firm has reportedly said it wants to bring Fund IX up to more than $2 billion, which would make it one of...
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