|
|
Article: United States : FDIC Sells Corus Bank s $4.5 Billion Loan Portfolio to Investment Group.
- Article from:
- TendersInfo
- Article date:
- October 9, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. 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)
|
An investment consortium managed by Starwood Capital Group on Tuesday agreed to acquire a 40% stake in a limited liability company that will hold an estimated $4.5 billion in troubled construction loans and real estate-owned assets the federal government seized last month from Chicago-based Corus Bank.
The LLC is called Northwest Investment, and its investor-partners are Connecticut-based Starwood, TPG Capital Group, Perry Group, and the real estate developer and property management company WLR LeFrak. They are paying $554 million in cash for their equity stake, and borrowing $1.386 billion to finance the rest of their $2.77 billion bid for these assets through ...
Related newspaper, magazine, and journal articles:
|
|
Article: MB FINANCIAL BANK, NATIONAL ASSOCIATION, CHICAGO, ILLINOIS, ...
US Fed News Service, Including US State News;
October 3, 2009 ;
693 words
... ... Corporation issued the following news release: Corus Bank, National Association, Chicago, Illinois ... Illinois, to assume all of the deposits of Corus Bank, N.A. The eleven branches of Corus Bank will reopen on their next normally scheduled ...
|
|