Barry Sternlicht's Starwood Capital Group Acquires Lake Worth Multifamily For $16M

Barry Sternlicht, the founder of Starwood Capital Group, has acquired a multifamily property in Lake Worth. The property is located at 2738 Lantana Road and 2735 Donnelly Drive and spans approximately 8 acres. The transaction, which took place on August 25, 2022, involved a sale between Equity Management Partners, represented by Benjamin Mallah, and Barry Sternlicht.

Summary of Transaction Details:

• Property Type: Multifamily
• Transaction Amount: $16,000,000
• Address: 2738 Lantana Road & 2735 Donnelly Drive
• Market: Lake Worth
• Acres: 8

Barry Sternlicht, through Starwood Capital Group, financed the acquisition with the help of CBRE Capital Markets. The property consists of 94 units, and the price per unit is approximately $170,213.