Barry Sternlicht's Starwood Property Trust and Starwood Capital Group agreed to buy LNR Property for $1.05 billion. Starwood will pay $856 million for most of LNR's businesses, including its U.S. special servicing unit and 50 percent of LNR's stake in Auction.com.
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Sale of LNR to Sternlicht's Starwood will top $1 billion
Bloomberg
January 24, 2013
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