ABOUT ST
An ST Evolution
In 2009, the Federal Deposit Insurance Corp. (FDIC) took control of Corus Bank in Chicago, which had a $4.5b construction and real estate loan portfolio. After a competitive public process, five well-known investors led by Barry Sternlicht (of Starwood Capital) and TPG were selected to partner with the FDIC. ST was created to manage these assets. ST's investors contributed $554 million for a 40% ownership interest in CCV, the entity that holds the assets.
Who owns ST
ST is backed by a hand-picked private equity group that includes leading investors and the firms behind renowned brands such as W Hotels, St. Regis, Ducati, Neiman Marcus and Exclusive Resorts. Investors include:
- - Starwood Capital
- - TPG Capital
- - WLR LeFrak & Wilbur Ross
- - Perry Capital
The FDIC and ST are co-owners of the assets owned by CCV.
About ST
ST is building a contemporary, high-quality lifestyle brand that provides an exciting, one-of-a-kind experience for its homeowners. It has a nationwide portfolio of properties with the highest level of style, quality and consistency.
What is ST
ST is perfecting a portfolio of superior quality, design-driven residences with an unmatched level of style, detail, amenities and smart technology. It is one of the few major owners of high-rise residential real estate that is actively investing in improving the quality and style of its properties.
ST provides a combination of strong financial backing and a unique public-private partnership with the FDIC. It is led by a seasoned group of real estate professionals who are committed to intelligent, trustworthy stewardship of its real estate assets.
Benefits of ST
ST properties give buyers an exceptional benefit that no other company can match: dependability and investment integrity - two characteristics that have been missing from the industry in recent years. Because of ST's investor security and commitment to responsible stewardship of its properties, ST buyers will not, for example, bear the risk that the developer stops paying its portion of HOA fees, leaving residents responsible for the entire bill.
The distinguished group of investors behind ST offers a sense of confidence and excitement to every homeowner associated with the group.
