Investors Jostling for FDIC Assets
December 23, 2009
The FDIC has received over a dozen bids for a $1.1B pool of mortgage assets made by now-failed banks. This would mark the second largest sale of FDIC assets since Starwood’s acquisition of Corus Bank assets back in October. No word on how that deal is going, but the deals the FDIC is structuring only [...]
Read More >>Starwood Gets Corus; Pays 60 Cents on the Dollar
October 7, 2009
A group led by Starwood Capital and TPG Partners officially won the auction for the Corus Bank assets. It was reported that the group paid about $500M more than the nearest competitor for the deal, which raised some eyebrows. The deal has investors putting in about $550M for a 40% stake in a company that [...]
Read More >>Starwood Reportedly Winner of Corus Bank Assets
October 2, 2009
The WSJ is reporting that a group led by Starwood Capital is the likely winner of the auction for Corus Bank’s commercial real estate assets. The “face” value of the assets is about $5 Billion according to the article, and the deal is far from done. Starwood recently raised a big chunk of change through [...]
Read More >>Colony Capital Going After Corus Bankshares
June 4, 2009
Colony Capital and the Related Companies have expressed interest in possibly pursuing the assets of one of Southern Florida’s most prolific lenders during the condo boom, Corus Bank. The bank was well known for providing large non-recourse loans to developers and converters of condominiums. As the market fell apart the bank has come under a [...]
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