Distressed asset manager LNR Property to be sold

LNR Property LLC, which has controlled high-profile Baltimore assets in recent months, will be sold to a Greenwich, Conn., buyer.

The Miami Beach, Fla., real estate firm is the largest manager of distressed assets in the United States. Starwood Property Trust Inc. and Starwood Capital Group LLC have agreed to buy LNR for $1.05 billion.

LNR has acted as a special servicer on behalf of creditors in several recent Greater Baltimore transactions. The firm has had a hand in the Sun Life building at…