Maurice Greenberg's Starr International Company, following a $900 million Moscow development deal last month, is now involved in another partnership to buy $786 million worth of Eastern European real estate projects, his company said.
The announcement today by Starr in New York and the London-based Letterstone Group said they had done an initial funding of EUR100 million ($157 million) and have plans to acquire EUR500 million ($786 million) in real estate development investments.
Over the next 15 months, the concerns said that a new joint venture, LS Real Estate Ventures B.V., plans to invest in real estate developments initially in Hungary, Slovakia and Romania, and later in the Ukraine.
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