Investor group wins auction for Corus loans

A group of investors led by Starwood Capital Group and private-equity firm TPG have won the auction for assets of failed Corus Bank in a deal that will have them pay $554 million, or about 60 cents on the dollar, the Federal Deposit Insurance Corp. said Tuesday.

The consortium, called Northwest Investments, will have a 40 percent equity stake in a portfolio of loans and assets with an unpaid principal balance of about $4.5 billion, the FDIC said.