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Starwood unit pays $110M for Charlotte, NC, multifamily asset

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Starwood unit pays $110M for Charlotte, NC, multifamily asset

An affiliate of Starwood Real Estate Income Trust Inc. acquired the fee-simple interest in the 570-unit Cascades Apartments in Charlotte, N.C., for $109.6 million, excluding closing costs.

The newly renovated multifamily property is 96% occupied.