Starwood Property Trust will spend $2.2B to buy Fundamental Income and its 467-property net lease portfolio, the latest in a series of large trades in a defensive asset class. 
The Miami Beach-based investment firm is buying Fundamental, which manages a 12M SF portfolio spanning 44 states, from Brookfield Asset Management. The 28-person team that had been supporting the portfolio will move to Starwood as part of the deal, which is expected to close next week.