Starwood Property Trust and Starwood Capital Group have entered into a definitive agreement to acquire LNR Property LLC for $1.05 billion. LNR is the developer of the 1,400 acre SouthField in South Weymouth, Mass.
Starwood Prop. will acquire the following LNR business segments for $856 million: U.S. Special Servicer. U.S. Investment Securities portfolio, Archetype Mortgage Capital, Archetype Financial Institution Services, LNR Europe and 50% of LNR's interest in Auction.com. Also, Starwood Cap. will acquire for $197 million both LNR's U.S. Commercial Property Group and the other 50% of LNR's ownership interest in Auction.com.