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2025 The ApartmentBuildings.com 100
Transactions of the Year
- AION, Goldman Sachs Enter into a $700-Million Recapitalization Partnership
- Blackstone Buys Apartment Income REIT for $10 Billion
- Brookfield Pays $1.55 Billion for a 7,300-Unit Sunbelt Portfolio
- KKR Acquires 5,200-Unit Portfolio from Quarterra Multifamily, Pays $2.1 Billion
- Oak Row and Mariposa Join Forces, Acquire FL Land for $520 Million
Brookfield Pays $1.55 Billion for a 7,300-Unit Sunbelt Portfolio
Brookfield shook hands with Starwood Capital Group for ownership rights to a 7,300-unit Sunbelt apartment portfolio. The buyer paid $1.55 billion for the assets, which are located in Florida and Texas. The average unit price was $212,000.
According to Green Street, Starwood has invested $90 million in property improvements since 2019. Brookfield indicated it would provide an additional $100 million over the next five years to renovate units and upgrade amenities.
The Florida properties included:
- South Pointe Apartments, 5000 S. Himes Ave., 112 units, $21.3 million or $190,484 per unit
- 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