The deal will include only the management unit of Waypoint, which will operate Starwood’s housing-rental business, said Bloomberg, citing three people with knowledge of the matter.
Starwood Property Trust revealed in a regulatory filing that it had signed a letter of intent to buy an outside management business following a potential spinoff of single-family properties into a new REIT, said the report.
The firm has bought 4,329 homes worth $358m and currently owns 1,551 non-performing home loans valued at $408m.
Earlier this month Starwood Capital bought seven shopping centres in the US from Australian retail company Westfield Group.
In April this year Starwood closed its Starwood Distressed Opportunity Fund IX, which reached its cap of $4.2bn.
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