The company has agreed to purchase a Florida portfolio consisting of 28 properties and 6,185 units for $600M. Properties are mostly located in Orlando, with smaller portions in West Palm Beach, Tampa, and Miami areas.
Upon closing, Starwood's (NYSE:STWD) multi-family portfolio will top 15.1K units, mostly in Florida.
The deal is seen closing in phases, with the first 1,740 units already closed. All should be completed by the end of Q2.
Source: Press Release
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