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Business

>> CERBERUS Latest News

JAN 24, 2013 - Washington Business Journal

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Starwood confirms it will buy LNR Property, Auction.com

Starwood Property Trust officials announced what many media outlets have reported months ago, that it would be acquiring Miami Beach-based LNR Properties, the largest servicer of commercial mortgage-backed securities (CMBS). The Greenwich, Conn.-based company (NYSE: STWD) said it will pay $1.05 billion in cash for LNR, which is owned by multiple investors, including Vornado Realty Trust, Cerberus Capital Management, iStar Financial and Oaktree Capital Management. The deal is expected to close in…

Tags: Starwood confirms it will buy LNR Property, Auction.com,  Cerberus Latest News