Starwood Capital Group's Barry Sternlicht Secures $76M Loan For Miami Beach Development Site

A development site located at 2340 Collins Avenue in Miami Beach was involved in a recent transaction. The property was acquired by Starwood Capital Group, represented by Barry Sternlicht, for a loan amount of $76,000,000 from citizens''>Citizens Bank. The property has a building square footage (BSF) of 144,430.

Summary of transaction details

• Property Type: Development site
• Transaction Amount: $76,000,000
• Address: 2340 Collins Avenue, Miami Beach
• Market: Miami Beach
• Lender: Citizens Bank
• Landlord: Starwood Capital Group - Barry Sternlicht
• BSF: 144,430

Barry Sternlicht, representing Starwood Capital Group, played a significant role in this deal. The loan was facilitated by Citizens Bank, providing financial support to the project. This acquisition showcases the continued growth in the development sector of Miami Beach.