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Brookfield Acquires 10 Florida Apartment Properties
Brookfield has agreed to pay $1.55 billion for a 7,300-unit apartment portfolio concentrated in Florida and Texas, of which ten are in Florida. Starwood Capital was the seller. The average unit went for $212,000.
Green Street reports Starwood has spent some $90 million improving the properties since 2019, but Brookfield plans to invest another $100 million in unit renovations and amenity upgrades over the next five years.
Four of the properties were from Tampa:
- The Dawson Apartments, 15501 Bruce B. Downs Blvd., 408 units, $66.7 million or $163,544 per unit
- St. James Crossing Apartments, 5620 Tranquility Oaks Drive, 264 units, $49.2 million or $186,723 per unit
- Oak Ramble Apartments, 14627 Grenadine Drive, 256 units, $48.2 million or $188,365 per unit
- South Pointe Apartments, 5000 S. Himes Ave., 112 units, $21.3 million or $190,484 per unit
Six others were scattered around the state.
- ◦Sale/Acquisition
