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Stock Market & Financial Investment News

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January 24, 2013
06:07 EDTSTWDStarwood Property, Starwood capital to acquire LNR Property LLC for $1.05B
Starwood Property Trust and Starwood Capital Group, on behalf of Starwood Distressed Opportunity Fund IX, announced that they have entered into a definitive agreement to acquire LNR Property LLC for a total purchase price of $1.05B in cash. The acquisition is expected to be accretive to earnings and cash flow in 2013 and 2014, resulting in enhanced dividend coverage for Starwood Property Trust's shareholders.
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