A consortium of investors led by Starwood Capital has reached a “definitive agreement” to buy $4.5 billion portfolio of construction loans and real estate formerly owned by Chicago-based Corus Bank, in a deal worth about $2.77 billion.
The consortium, which also includes TPG Capital, Perry Capital and WLR LeFrak, is to purchase the portfolio comprising more than 100 loans and assets linked to an array of sectors including condominiums, multi-family housing, offices and land across the US.
Starwood confirms $2.8bn Corus deal
Starwood has teamed up with TPG and other investors to buy a $4.5bn portfolio of loans and real estate from failed Chicago-based Corus Bank.
