CapitaLand Acquires Multifamily Portfolio In LA From Starwood For $835M

The recently closed property transaction involves a portfolio sale of 16 buildings, including 3 multifamily properties located in Los Angeles. The entire portfolio comprises a total of 3,787 units. CapitaLand, a real estate company, purchased the properties from Starwood for a price of $835,000,000, at an average price per unit of $220,000. The sale also includes 13 properties situated in Seattle, Denver, and Portland. CapitaLand has plans to renovate all the properties and may potentially create investment vehicles or partnerships for some of the assets.

Summary of transaction details:

• Property Type: Multifamily Portfolio
• Transaction Amount: $835,000,000
• Number of Units: 3,787
• Price per Unit: $220,000

CapitaLand, who acted as the buyer in the transaction, successfully acquired the portfolio from Starwood. Lee Chee Koon, representing CapitaLand, played a significant role in the deal. Barry Sterlicht, representing Starwood, also played a crucial role as the seller's representative. This portfolio acquisition marks CapitaLand's strategic move in expanding its real estate portfolio across multiple cities.