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Starwood Real Estate Income Trust acquires apartment properties for $182M

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Starwood Real Estate Income Trust acquires apartment properties for $182M

Starwood Real Estate Income Trust Inc. bought multifamily properties in Florida, Arizona and Georgia from an affiliate of its adviser for a total of $182 million, excluding costs.

In Florida, the diversified real estate investment trust paid about $100 million for a portfolio consisting of 1,150 units spread across two properties each in Jacksonville and Naples. The assets were initially purchased by the affiliate and were bought by Starwood after the escrow period ended.

Starwood also bought a 256-unit property in Mesa, Ariz., for approximately $46 million, and a 203-unit asset in Savannah, Ga., for about $36 million.