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Starwood Capital Group to buy properties for $5.37 billion

Staff writer ▼ | October 27, 2015
Investment firm Starwood Capital Group has agreed to buy 72 properties from U.S. real estate company Equity Residential for about $5.37 billion.
Equity Residential
Acquisition   Equity Residential is to sell 72 properties
The properties comprise a mix of 23,262 mid-rise and garden-style apartment buildings, located in regions including South Florida, Denver, Colorado, Washington D.C., Seattle and Inland Empire.

Equity Residential had 98,287 wholly-owned apartment units in 2014. The deal represents about a quarter of the apartment units in the company's portfolio.

Starwood Capital said it would control more than 88,000 apartment units following the close of the deal to become one of the largest owners of multifamily housing in the United States.

The deal is expected to close in the first quarter of 2016.


 

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