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Sternlicht Cashing Out on Corus Bank Failure

FDIC Also Stands To Benefit as Investment Consortium Puts $1 Billion of Formerly Distressed Condo Developments on the Block
CoStar News
January 30, 2013 | 11:15 P.M.

ST Residential, an investment group led by Barry Sternlicht's Starwood Capital, is planning to cash out a portion of a huge condo portfolio it acquired from the FDIC after the feds took over the $7 billion Chicago-based Corus Bank, which failed in the fall of 2009.

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