Starwood Capital Group Acquires $118 Million Commercial Loan Portfolio

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Oct 01, 2012, 08:30 ET

GREENWICH, Conn., Oct. 1, 2012 /PRNewswire/ -- Starwood Capital Group, a leading global private investment firm, announced today that it has acquired, on behalf of Starwood Distressed Opportunity Fund IX, a commercial loan portfolio with an outstanding principal balance of approximately $118 million. The portfolio consists of 73 loans, located throughout the southeast, within 25 Borrower relationships, providing a senior secured interest in all collateral assets. The collateral consists of multiple property types, including, office, retail, multifamily, commercial land, residential land and single family homes.

"This is the ninth multi-loan portfolio we have purchased from financial institutions over the past three years," said Chris Graham, Managing Director at Starwood Capital Group. "In each situation, we have worked with the seller's management to structure transactions that fulfill their needs and also meet our own investment criteria. These loan portfolios are a key component of our investment strategy and we will continue to pursue similar opportunities going forward."

"This deal represents a great opportunity for our partners to purchase a portfolio of quality loans in strong markets," said Ethan Bing, Vice President at Starwood Capital Group. "I am pleased with our team's ability to execute this transaction quickly and to accomplish Starwood's and the seller's objectives."

About Starwood Capital Group

Starwood Capital Group is a private, U.S.-based investment firm with a core focus on global real estate. Since the group's inception in 1991, the firm has raised nearly $16 billion of equity capital and, through its various funds, has invested $13 billion representing nearly $35 billion in assets. Starwood Capital Group currently has over $21 billion of assets under management. Starwood Capital Group maintains offices in Greenwich, Atlanta, San Francisco, Washington, D.C., Los Angeles and Chicago, and affiliated offices in London, Luxembourg, Paris, Mumbai and Sao Paulo. Starwood Capital Group has invested in nearly every class of real estate on a global basis, including office, retail, residential, senior housing, golf, hotels, resorts and industrial assets. Starwood Capital Group and its affiliates have successfully executed an investment strategy that includes building enterprises around core real estate portfolios in both the private and public markets. Additional information about Starwood Capital can be found at www.starwoodcapital.com.