Barry Sternlicht Of Starwood Asset Management Acquires Multifamily Properties In Miami For $115.4M

The transaction involved the sale of three multifamily properties located at 155 Northeast 78th Street, 244, 290 Northwest 72nd Terrace, and 25881 Southwest 143rd Court within the Miami and Naranja markets. The properties were sold for a total of $115,400,000, encompassing 570 units with a price per unit of $202,456.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $115,400,000
• Buyer: Barry Sternlicht - Starwood Asset Management
• Seller: Gatehouse Group
• Brokers: Tim Flint, Jim Flinn & Jon Romano - CBRE
• Units: 570
• PPU: $202,456

Starwood Asset Management's acquisition included properties such as Lafayette Plaza and Emerald Terrace in Little River, and Magnolia Landing Apartments in Naranja. The financing for the transactions was backed by Freddie Mac, facilitated by CBRE Capital Markets, with the brokerage team of Tim Flint, Jim Flinn, and Jon Romano orchestrating the deal.