U.S. fund Starwood to buy Spain residential home developer Aedas, Cinco Dias reports

MADRID, March 11 (Reuters) - U.S.-based fund Starwood Capital is close to reach an agreement to buy a 79% stake in Spanish residential real estate developer Aedas Homes AEDAS.MC, newspaper Cinco Dias reported on Tuesday, citing unidentified sources.

Rival U.S. fund Castlelake currently controls 79% in Aedas and is eager to exit the company, the newspaper reported last year.

Given Spanish market rules, a potential buyer for the stake would have to make an offer for all of the company's stock.

At Monday's closing price, Aedas was worth 1.25 billion euros ($1.36 billion), according to LSEG data.

A spokesperson for Aedas declined to comment, while Castlelake and Starwood did not respond to requests for comment.

($1 = 0.9181 euros)