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Starwood Property Trust Inc And Starwood Capital Group To Acquire LNR Property LLC


Thursday, 24 Jan 2013 06:00am EST 

Starwood Property Trust Inc and Starwood Capital Group announced that they have entered into a definitive agreement to acquire LNR Property LLC (LNR) for a total purchase price of $1.05 billion in cash. LNR, founded in 1969, is a diversified real estate investment, finance, management and development firm. Under the terms of the agreement, Starwood Property Trust will acquire the following LNR business segments for a total purchase price of $856 million: US Special Servicer the special servicer with over $131 billion in loans under management and real estate owned; US Investment Securities Portfolio a portfolio of legacy whole loans, CMBS and CDO investments; Archetype Mortgage Capital a commercial real estate conduit loan origination platform designed to provide financing solutions throughout the US; Archetype Financial Institution Services an acquirer, manager, and servicer of portfolios of small balance commercial loans and real estate assets; LNR Europe which consists of Hatfield Philips, the independent primary and special servicer in Europe, and LNR European Investment Fund, a European CRE debt fund; and Auction.com 50% of LNR's interest in the real estate exchange selling residential and commercial real estate via auction. In addition, Starwood Capital Group will acquire for $197 million both LNR's US Commercial Property Group and the other 50% of LNR's ownership interest in Auction.com. 

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