Brookfield has acquired Starwood’s West Palm Rental in a $108 million deal. Additionally, Starwood Capital Group sold an apartment complex near West Palm Beach for $107 million as part of a large national portfolio deal. South Florida is not immune to troubles of the office sector. This Sunrise office park sold for $49 million, a big loss from $74 million price in 2019.
Office vacancies set a new all-time high, "breaking the 20% barrier for the first time in history." https://t.co/VsJzsUhH6D
South Florida is not immune to troubles of the office sector. This Sunrise office park sold for $49M, a big loss from $74M price in 2019 https://t.co/q8wawTx9za
Berkadia, Freddie Mac Provide $40M Acquisition Loan for Florida Apartment Community https://t.co/HXIhHKKcgy
The real estate investment arm of Church of Latter-day Saints pays $133M for apartment complex in Plantation, Stiles & PGIM were sellers https://t.co/C50ZOhnA5x
S2 Development pays $37M for new apartment building in Dania Beach & immediately converts it to condos @CondoVultures https://t.co/d5f8UjXAKv
Dallas Investor Buys Delray Beach, Fla., Rental for $112M https://t.co/eeVH0DXVnw
Starwood Capital Group sells apartment complex near West Palm Beach for $107M as part of massive national portfolio deal https://t.co/2aaOjoCfls
Office building valuations in the US are down 20 to 50% on average, with some even down 70%, per the NYT.
Brookfield Buys Starwood’s West Palm Rental in $108M Deal https://t.co/nMiVgqnkqi