Starwood Land Ventures Adds West Region President to Oversee Expansion

Tue Jul 1, 2008 1:51pm EDT

* Reuters is not responsible for the content in this press release.

SARASOTA, Fla., July 1 /PRNewswire/ -- Starwood Land Ventures, LLC
continues to expand its nationwide presence with the addition of West Region
President, Michael R. Forsum. Based from the company's newly opened Phoenix
office, Forsum will oversee Starwood Land's expanding operations in the west.
    "Mike is an extremely entrepreneurial and versatile professional whose
vast network of relationships and deep residential land investment experience
will be invaluable to the company as we grow our presence in several key
western markets," said John Peshkin, CEO of Starwood Land Ventures. "I am
exceedingly pleased to welcome Mike to our team."
    In his new role, Forsum will build Starwood Land's team in Phoenix,
establish joint venture partnerships in the Las Vegas and Denver markets, and
be responsible for existing relationships in both Northern and Southern
California.
    Forsum's western residential development experience stems from Taylor
Morrison (formerly Taylor Woodrow), where he headed the company's western
region for seven years. During his tenure, he was responsible for the
company's operations in Arizona, California and Colorado and was credited with
streamlining the luxury homebuilder's western operations and repositioning its
products. Forsum has also held division president roles with KB Home and
Ryland Homes.
    Forsum, who currently serves on the boards of HomeAid America and the
Orange County Council of the Boy Scouts of America, received a bachelor's
degree in business administration from Arizona State University and holds a
California contractor's license.
    About Starwood Land Ventures, LLC
    Starwood Land Ventures, LLC is a Sarasota, FL-based residential real
estate investment firm focused on land acquisition, development and financing
nationwide. The firm is a controlled affiliate of Greenwich, CT-based Starwood
Capital Group Global, LLC. Starwood Land partners with builders, developers,
lenders and land holders and will provide creative solutions to recapitalize
assets with both debt and equity.  The firm also purchases debt and
specializes in the acquisition, entitlement and development of large,
master-planned communities, which may include mixed-use components. Through
its platform of partnerships with leading development firms across the
country, Starwood Land and its experienced team aim to be the capital partners
of choice to land owners, developers and builders. For more information about
Starwood Land, visit the website at www.starwoodland.com
SOURCE  Starwood Land Ventures, LLC

Amy Ogden, +1-904-280-7960, amy@clockworkmarketing.com, for Starwood Land
Ventures, LLC
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