Starwood Capital Group

Third Wave Acquisition Corp., a so-called blank-check company headed by Starwood Hotels and Resorts founder Barry Sternlicht, filed with regulators Tuesday to raise as much as $350 million in an initial public offering. The Greenwich, Conn., company said in a registration statement filed with the Securities and Exchange Commission that it would offer 35 million units at a price of $10 each.

WCB Properties and Starwood Capital Group bought an office and retail complex in San Diego for $71 million, one of the largest office property sales in the metropolitan area this year. The two firms purchased the 389,000-square-foot Hazard Center, in the city's Mission Valley area, from Connecticut General Life Insurance, according to broker Cushman & Wakefield, which represented the seller. The property's 15-story, granite-clad office tower is fully leased, with such tenants as Aetna Inc.

With a bid of more than $77 million, investment advisor Starwood Capital Group has been selected to purchase Figueroa Plaza, a two-tower complex in downtown Los Angeles. The buyers are a partnership of Greenwich, Conn.-based Starwood and the building's original developer, Raffi Cohen.

When the Aoki Corp. of Japan announced the sale of its Westin Hotel Co. division last week, the 390-room Westin South Coast Plaza was included on the list of properties slated for an ownership change. But Westin officials said Tuesday that the Costa Mesa hotel is not among the properties to be sold. On Friday, Westin issued a statement saying that the hotel was one of 13 properties being sold to an investor group.