Signs are growing that vulture funds have deemed the time finally right to move in and acquire troubled commercial real estate. One notable example:
Barry Sternlicht's hedge fund, Starwood Capital, is said to be positioning itself to buy a downtown office in Greenwich, Conn., that houses two troubled hedge funds. Starwood already has purchased the $30 million mezzanine loan and certain rights on the rest of the debt on 100 West Putnam, according to sources.

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