Starwood Property Trust Acquires Multifamily Property In Miami For $371.1M

Barry Sternlicht has acquired two multifamily properties in Miami, marking the most expensive multifamily sale in South Florida this year. The properties, located at 8125 & 8217 SW 72nd Avenue, were sold by Mill Creek Residential for a total price of $371,100,000. The transaction involved a total of 844 units, with an average price per unit of $439,692.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $371,100,000
• Address: 8125 & 8217 SW 72nd Avenue, Miami
• Market: Miami
• Buyer: Starwood Property Trust - Barry Sternlicht
• Seller: Mill Creek Residential
• Units: 844

Barry Sternlicht, representing Starwood Property Trust, played a key role in the acquisition of these multifamily properties. This notable transaction highlights Sternlicht's involvement in the real estate market and showcases his continued interest in expanding his property portfolio.