Starwood Capital Drops $135M On Pittsburgh's Liberty Center

Law360, New York (August 2, 2013, 12:03 PM EDT) -- A fund affiliated with Starwood Capital Group has acquired the Liberty Center, a mixed-use office and hotel property in downtown Pittsburgh, for $135 million, Starwood announced Friday.

Starwood bought the 27-story hotel in Pittsburgh's central business district, also known as the Golden Triangle, from a partnership including Forest City Enterprises Inc. and Jos. L. Muscarelle Inc.

“We are excited to be acquiring this well-performing mixed-use asset, which is situated in a market that has increasingly attractive fundamentals,” Jeff Shuster, vice president at Starwood, said in Friday's...
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