Starwood Pays $554 Million for Corus Assets
Starwood will acquire 40% interest in Corus Bank's assets, including the Montage, a package deal for $554 million, roughly 60 cents on the dollar, according to Market Watch.
According the Reuters, "The consortium, called Northwest Investments, will have a 40 percent equity stake in a portfolio of loans and assets with an unpaid principal balance of about $4.5 billion, the FDIC said."
Curious as to your take on the price paid. Is this good for downtown? Good for prospective buyers? Good for the taxpayer? Or, none of the above.