Starwood Strikes $2.2 Billion Real Estate Deal With Brookfield

Starwood Property Trust agreed to acquire Fundamental Income Properties for $2.2 billion as Chief Executive Officer Barry Sternlicht aims to further diversify the company’s revenue.

It’s acquiring Fundamental’s operating platform and real estate portfolio from Brookfield Asset Management, according to a statement Wednesday. The deal includes 12 million square feet (1.11 million square meters) of space across 467 properties, with tenants spanning food production, auto services and retail industries.