Starwood Capital Group to Acquire Corus Bank Assets

October 2, 2009

I received a phone call 10 minutes ago from a friend to give me the news that it appears that Starwood Capital Group will acquire the remaining assets of Corus Bank.  Unfortunately, Reuters beat me to the punch and reported the story about an hour ago.  The rise and fall of Corus Bank has been a story that I have chronicled extensively over the past two years because of the obvious connection the company has to the Miami condo market.  The final chapter has now closed and it will be up to Starwood Capital Group to establish the floor for the condo market here in South Florida.