Starwood Spends $191M On REO Office, Retail Portfolio

Law360, New York (January 29, 2014, 9:05 PM EST) -- Starwood Capital Group has acquired a pool of real estate owned assets in California, Virginia, Arizona, Tennessee and Kansas from special servicer CWCapital Asset Management LLC for $191 million, Starwood announced Wednesday.

The private investment firm purchased the portfolio through a controlled affiliate, obtaining seven new office properties covering 1.3 million square feet and four retail properties comprising 295,000 square feet.

“We are pleased to be acquiring an income-generating portfolio of REO assets located in markets with attractive fundamentals,” Mark Keatley, senior vice president at Starwood...
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