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Florida & Gulf Coast  + Florida  + Apartments  | 
Starwood Capital

Starwood Snares Florida MF Portfolio for $600M

Greenwich, CT-based Starwood Property Trust is acquiring an institutional-quality multifamily affordable housing portfolio in Florida for roughly $600 million. The 99% leased portfolio is comprised of 28 properties and 6,185 units. The assets are predominately located in Orlando, with smaller concentrations in the West Palm Beach, Tampa, and Miami MSA’s.

“This uniquely structured, off-market investment in a high quality multifamily affordable housing portfolio is a great way to begin 2018,” said Starwood’s Barry Sternlicht. “This transaction is an extension of Starwood Property Trust’s previous successful investment in the affordable multifamily housing sector, and upon closing our portfolio will consist of over 15,100 units of housing located predominately in Florida.”

Starwood is acquiring the portfolio with a combination of units in a newly-formed subsidiary which are exchangeable into Starwood common shares, cash and debt financing. The transaction is expected to close in phases by the end of Q2 2018.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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