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Starwood Property closes 4th phase of Fla. portfolio purchase

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Starwood Property closes 4th phase of Fla. portfolio purchase

Starwood Property Trust Inc. closed on the fourth phase of a $595 million deal to purchase a portfolio of 27 multifamily properties totaling 6,109 units in Florida.

The mortgage real estate investment trust acquired six properties with 1,254 units in the fourth phase, which closed March 28.

Starwood expects to complete the remaining phase of the deal, comprising one 312-unit property, by the end of the second quarter.