Starwood Capital Group Acquires Multifamily Property In West Palm Beach For $13.8M

Barry Sternlicht has recently closed on a multifamily property transaction in West Palm Beach. The property, located at 5500 North Haverhill Road, was sold by LCA Las Palmas LP (Lakeside Capital Advisors) to SREIT Royal Poinciana, with Starwood Capital Group's Barry Sternlicht representing the buyer's interests.

Summary of transaction details

• Property Type: Multifamily
• Sale Date: 03/02/2020
• Address: 5500 North Haverhill Road
• Market: West Palm Beach
• Buyer: SREIT Royal Poinciana (Starwood Capital Group - Barry Sternlicht)
• Seller: LCA Las Palmas LP (Lakeside Capital Advisors)
• Sale Price: $13,800,000
• Number of Units: 144
• Price per Unit: $96,000

This transaction demonstrates Barry Sternlicht's involvement in the West Palm Beach multifamily market. The successful deal emphasizes his strong representation of SREIT Royal Poinciana, who acquired the property from LCA Las Palmas LP. This transaction further solidifies Sternlicht's reputation as a reputable broker in the area.