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Article: Starwood Capital Announces Distribution and Sale of iStar Financial Shares.
- Article from:
- PR Newswire
- Article date:
- May 13, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GREENWICH, Conn. -- GREENWICH, Conn., May 13 /PRNewswire/ -- Starwood Capital Group, L.L.C. announced today that approximately 15.9 million shares of iStar Financial Inc. common stock have been distributed to investors in Starwood Opportunity Fund IV, L.P. Some of these investors have agreed to sell approximately 6.9 million of these shares of iStar Financial common stock in an underwritten offering with Merrill Lynch as the sole manager. Barry Sternlicht, the founder and CEO of Starwood Capital, and Messrs. Jeff Dishner, Merrick Kleeman and Madison Grose, all Senior Managing Directors of Starwood Capital, will resign from iStar Financial's Board effective upon the ...