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STARWOOD CAPITAL SELLS NYC OFFICE BUILDING TO ROSS STORES

NEW YORK CITY — Starwood Capital Group, on behalf of a controlled affiliate, has sold the leasehold interest in an office building to an affiliate of Ross Stores Inc. Located at 1372 Broadway, the 21-story building offers 572,000 square feet of office space. The building serves as the East Coast buying office for Dublin, Calif.-based Ross Stores. Terms of the sale for were not disclosed. Starwood Capital Group, through its Starwood Distressed Opportunity Fund IX, originally purchased the leasehold interest in the property in June 2012. Kasowitz, Benson, Torres & Friedman LLP advised Starwood Capital Group in the transaction.

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