Barry Sternlicht Of Starwood Capital Group Acquires Senior Housing Communities In North Carolina For $209M

The transaction involves two senior housing assets located in Wake County, North Carolina. The properties sold are 10000 Cambridge Village Loop and 7901 T.W. Alexander Drive, covering a total of 20.93 acres. The properties consist of 414 units, with a per unit price of $504,831. The total sale price for these assets amounted to $209 million.

Summary of transation details:

• Property Type: Senior Housing
• Transaction Amount: $209,000,000
• Address: 10000 Cambridge Village Loop & 7901 T.W. Alexander Drive
• Market: Apex & Raleigh, NC
• Units: 414
• Price Per Unit: $504,831
• Buyer: Barry Sternlicht - Starwood Capital Group
• Seller: Oliver Development

Barry Sternlicht represented Starwood Capital Group in the acquisition of the senior living communities, which are Cambridge Village of Apex and The Cambridge at Brier Creek. The seller, Oliver Development, concluded a broader portfolio sale totaling $349.9 million, which also included a property sold for $140.9 million.