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Starwood Unloads Tampa Rental Property for $76.3M
Starwood Capital Group has sold Bridges at Crosstown, a 344-unit community in Tampa, Fla. Bridge Investment Group paid $76.3 million for the multifamily community.
Bridge took out a $52 million, five-year Freddie Mac loan originated by Prudential Financial. In 2021, Starwood acquired the asset from Centennial Holding Co. as part of a 16-community portfolio across six states.
Commercial Edge reports the news comes just as Apollo entered into a definitive agreement to acquire Bridge Investment Group for $1.5 billion.
Located at 9712 Bosque Creek Circle, the community formerly known as Century Crosstown came online in 2013. The unit mix consists of one-, two- and three-bedroom floorplans varying from 781 to 1,372 square feet.
Common-area amenities include a fitness center, clubhouse, swimming pool, business center, and EV charging stations. The community also has sundecks and cabanas, outdoor lounges with fireplaces, a computer lounge and media room, and an outdoor kitchen with grilling stations.
- ◦Sale/Acquisition
