Bob Faith Of Greystar Real Estate Partners Purchases Axis West Apartments From Barry Sternlicht For $69M

The property asset involved in the transaction is a 12-acre multifamily development located at 6820 Axis West Circle in Orlando. The asset comprises 268 residential units, with a price per unit amounting to $257,463. The sale price of the property was recorded at $69,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $69,000,000
• Buyer: Bob Faith - Greystar Real Estate Partners
• Seller: Barry Sternlicht - Starwood Real Estate Investment Trust
• Units: 268
• Price Per Unit: $257,463
• Market: Orlando
• Acres: 12

The deal was executed between Bob Faith, acting on behalf of Greystar Real Estate Partners, and Barry Sternlicht, representing Starwood Real Estate Investment Trust. This transaction reflects a notable reduction in value, as Greystar acquired the property for $17.5 million less than the price at which Starwood purchased it in 2022.