Starwood Pays $735M To Pick Up InTown Suites From Kimco

Law360, New York (October 22, 2012, 7:01 PM EDT) -- Kimco Realty Corp. on Monday announced the sale of its InTown Suites portfolio for $735 million to an affiliate of private-equity-backed global real estate investment firm Starwood Capital Group, saying the transaction should be completed in the first half of 2013.

The deal, which includes $617 million of existing debt, is Kimco's latest in a series of asset sales this year. The transaction is contingent upon Starwood Distressed Opportunity Fund IX’s completion of its due diligence process and other closing conditions, including lender approvals, according to...
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